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