Spring Valley

DC may be home to some of the nation’s priciest real estate, but some neighborhoods continue to attract buyers primarily interested in an all-cash sale. While the percentage of all-cash sales is down slightly overall compared to previous years, it’s still an attractive option for a large number of DC area buyers.

Looking at the first eleven months of 2019 alone, cash buyers made up about 17-percent of all homes purchased in the District. Previously all-cash transactions had been holding around 20-percent or even higher.

In other words, about one in every five homes or even nearly one in every four homes in recent years has sold for cash. Surprisingly, the majority of DC neighborhoods attracting all-cash buyers are some of the priciest.

Most

Home to some of DC’s priciest real estate, Spring Valley is an estate enclave. This Northwest DC neighborhood is known for its tree-lined streets and its large, multi-million-dollar homes.

Despite a median sold price of more than $2 million, the homes of Spring Valley surprisingly don’t sit on the market long. Often including at least four-bedrooms or even more, homes in this prestigious neighborhood are highly desirable.

With this in mind, it’s not unusual to find homes in Spring Valley easily priced in the multi-million-dollar range. Buyers lucky enough to find a home for sale in the neighborhood are often treated to such luxuries as custom home theatres, wine cellars, private swimming pools and plenty of outdoor living space.

Some of the

Home prices are on the rise in the DC area, as more neighborhoods pass the million-dollar mark. Consistently you’ll find around 10 or so million-dollar neighborhoods in DC, where homes all average prices above $1 million.

Some neighborhoods are even higher than that. Last year the Spring Valley neighborhood had a median sale price of around $1.8 million, a big jump over last year. Large homes are the norm in this neighborhood of politicians, media personalities and Washington elite.

The Berkley neighborhood also topped the list for 2019 with a median sale price topping $1.6 million. Nearly surrounded by parkland, the affluent neighborhood is also one of the most exclusive.

Other million-dollar neighborhoods in DC include Kent, Georgetown,

Don’t let its zip code fool you, Spring Valley is decidedly suburban. This DC neighborhood may be slightly less well known than others in the area, but its residential options are certainly impressive.

The winding, hilly streets of Spring Valley are filled with beautiful homes. It’s rare to find properties priced under $1 million in this neighborhood of large homes and towering oak trees.

Generally, a majority of the homes tend to be brick Colonials, although you will find some Tudors and other designs in the area. The homes in the southern part of the neighborhood, farthest from Massachusetts Avenue, tend to be even larger, with some of the most impressive designs close to Rockwood Parkway.

Some reports suggest former presidents George H.W.

5th Avenue in New York.....North Lake Shore Drive in Chicago.....Turtle Creek Boulevard in Dallas and Louisburg Square in Boston are widely recognized as the most expensive streets for residential real estate in these cities.  This begs the question of what is DC's most expensive street?

In a quick informal poll, Tracy Place in Kalorama was the popular answer, although not a clear-cut winner like some of the other cities.  Wikipedia anoints Woodland Drive as DC's most expensive street, but lacks a citation backing up this proclamation.  Woodland Drive was also recognized as DC's most expensive street by Forbes Magazine in a 2007 story about the nation's most expensive blocks.

In reviewing MLS data of sold listings over the last two