D.C. Has the Second Most Home Sales Topping the $1 Million on the East Coast
On the east coast, the only city to beat that number was New York City, which had a whopping 31,613 million-dollar sales. Following D.C. was Boston with 2,529 sales.
PropertyShark specifically studied cities with over 300,000 inhabitants, and specifically looked at sales within city limits spanning the past three years.
PropertyShark recognizes that a multi-million dollar home is very different in many areas. In many cities, homes topping the million dollar mark may not be as grand as one might imagine.
“In many places around the U.S, the million-dollar home is no longer the mansion we might imagine,” PropertyShark noted, “but it is still a worthy threshold we use to relate to the dream home.”
While the study is interesting, it’s worth considering that fact. Even in D.C., what you might get for your money in one neighborhood can be very different from what you might get in another.
For example, a quick look at listings on Neighborhoods.com will show that you can get an updated, four bedroom home in Columbia Heights for $1,299,900. However, a similarly updated home with only two bedrooms in Logan Circle will cost $1,354,900.