WTOP, February 21, 2024, Seven-Figure Home Sales Now Make Up 20% Of The DC Housing Market
In January, 20.42% of the homes on the market in the DC metro were priced at $1.5 million or more, and 14.5% were priced between $1.5 million and $2.5 million, according to Long & Foster’s monthly luxury insights report. More than 5% were listed for $2.5 million or more.
But in January, 146 sales closed at $1.5 million or more, down from 184 in January 2022. The high-end of the DC housing market has the same problem that the overall market has. There were 5.8 months of simply available of properties in that price range, compared to 6.7 months a year earlier.
