WASHINGTON — If it’s not more than $2 million, it’s not luxury. Evidently, in D.C. real estate that’s the new norm.
Single-family houses priced at less than $1 million are “commonplace,” according to districtmeasured.com, a blog run by the city’s Department of Revenue Analysis.
It says homes that sell for more than $1 million make up nearly 20 percent of sales in D.C.
So, the office says, “it may be time to set the bar higher in terms of what constitutes luxury.”
Five percent of D.C. homebuyers dropped more than $2 million on their homes in the last year.
The blog lists the priciest purchases as having been made in Georgetown, Kalorama and Cleveland Park.
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