Real estate: What $1.28 million buys in DC suburbs
Three of the five wealthiest neighborhoods in America are in the Washington, D.C., area, and a quick look at residential real estate numbers shows that one of the area's housing markets is heating up.
Power House: Virginia real estate
Thursday, 27 Mar 2014 | 1:48 PM ET
Edward Berenbaum of Century 21 Redwood Realty, provides insight on the current housing market in Virginia. He shares three listings currently for sale.
CNBC's "Power House" talked to a real estate agent about Arlington, Va., just over the D.C. line, and looked at homes in three price ranges.
The median home price in Arlington stands at $514,500, up 6 percent in the last year. The average time on the market for a house is currently 50 days—down 15 percent from a year ago—indicating the market is getting hot.
The first home on the list is 1001 Vermont St., a 702-square-foot, one-bedroom, one-bathroom condominium. The list price is $364,900. It was built in 2005.
The second home is 5008 South 24th St. in the Claremont neighborhood. It's a four-bedroom, three-bathroom single-family home. It was built in 1947 and has 2,500 square feet for $739,000.
The third home, at 1510 Colonial Ct., is a four-bedroom, 3½-bathroom town-home built in 1992. It's listed at $1,275,000. The home is 3,200 square feet. jvanacore
Three of the five wealthiest neighborhoods in America are in the Washington, D.C., area, and a quick look at residential real estate numbers shows that one of the area's housing markets is heating up.
Power House: Virginia real estate
Thursday, 27 Mar 2014 | 1:48 PM ET
Edward Berenbaum of Century 21 Redwood Realty, provides insight on the current housing market in Virginia. He shares three listings currently for sale.
CNBC's "Power House" talked to a real estate agent about Arlington, Va., just over the D.C. line, and looked at homes in three price ranges.
The median home price in Arlington stands at $514,500, up 6 percent in the last year. The average time on the market for a house is currently 50 days—down 15 percent from a year ago—indicating the market is getting hot.
The first home on the list is 1001 Vermont St., a 702-square-foot, one-bedroom, one-bathroom condominium. The list price is $364,900. It was built in 2005.
The second home is 5008 South 24th St. in the Claremont neighborhood. It's a four-bedroom, three-bathroom single-family home. It was built in 1947 and has 2,500 square feet for $739,000.
Read MoreReal estate's red-hot category: Apartments
The third home, at 1510 Colonial Ct., is a four-bedroom, 3½-bathroom town-home built in 1992. It's listed at $1,275,000. The home is 3,200 square feet. jvanacore