Here’s how expensive the District’s housing market has become: Nearly one in eight sales in 2015 were sales that closed at $1 million or more.
That is the highest percentage — 12.3 percent — of seven-figure sales in the District on record.
“It was a banner year in terms of million-dollar-plus listings coming on the market, and sales quickly followed to meet market demand,” John Heithaus at RealEstate Business Intelligence Inc. tells WTOP.
Listing service MRIS says 7,956 residential properties in the District sold in 2015, with 875 of those sales between priced between $1 million and $2.5 million. Another 89 properties sold for between $2.5 million and $5 million, and there were 16 residential sales in the District last year that topped $5 million.
Click here to read the rest of the article written by Jeff Clabaugh over at the WTOP