The total value of all residential real estate in the D.C. metro has topped $1 trillion, and is one of four metros that have doubled the number of “Trillion-Dollar” housing markets in the country.
D.C. — along with Anaheim, California, Chicago and Phoenix — have all seen total residential values swell to more than $1 trillion in the past 12 months, according to Redfin.
The total value of all residential real estate in the D.C. region is now $1.054 trillion, growing by $67.1 billion in the past 12 months.
The New York City metro remains the most valuable residential market, with a total aggregate home value of $2.48 trillion, growing by $190 billion in the past 12 months. The Los Angeles metro ranks No. 2, at $2.2 trillion, followed by Atlanta, at $1.29 trillion, Boston, at $1.28 trillion, and Anaheim, at $1.12 trillion.
The only other trillion-dollar housing markets are Chicago and Phoenix, while San Diego and Seattle fell just shy of the threshold.
According to Redfin, which included more than 95 million U.S. residential properties as of June 2024, the total value of U.S. homes across the country is a record $49.6 trillion, gaining $3.1 trillion over the past year. In the past decade, the value of U.S. residential real estate has climbed 120%, more than doubling since 2014.
Suburban homes account for the largest share of residential real estate value, at $30.1 trillion, but the value of rural homes has risen the fastest, accounting for $7.8 trillion. Urban home values account for the balance of $10.3 trillion.
Redfin’s report, which examines home value gains by region and owner generation, can be found online.