The record for the most expensive home in the D.C. area was set in 2021 by Dan Snyder, who paid $48 million for an expansive Virginia estate on the Potomac River. Though this figure is monumental for the region, it pales in comparison to prices seen in other major cities. For instance, a London mansion sold in 2020 for £210 million, or roughly $272 million.

Washington’s luxury market, while smaller and more government-focused than cities like London or New York, still boasts an exclusive, high-end appeal. As Jonathan Taylor of TTR Sotheby’s International Realty explains, D.C. remains a smaller, government-centric market, with real estate prices generally outpaced by areas like New York, California, and even South Florida. In New York, for example, hedge fund billionaire Ken Griffin famously purchased a penthouse for approximately $240 million in 2019, underscoring the disparity.

The Coveted Gold Coast of Virginia

The D.C. area’s high-end market has traditionally centered on Virginia’s “Gold Coast” along the Potomac River. This stretch of land, encompassing parts of Alexandria and McLean, is renowned for its scenic river views, proximity to the capital, and exclusive community. The area’s mix of business leaders, professional athletes, and Washington elites keep prices steady and demand strong.

During the recent third quarter, luxury home prices in the Washington metro area remained stable, with the median sale price for luxury properties hovering around $2.5 million, according to data from Sotheby’s International Realty. But in the weeks leading up to the presidential election, there was a notable pause in transactions. Local agents expect a rebound post-election, as political appointees and previously cautious buyers re-enter the market.

Despite the slowdown, high-profile transactions still took place. Just last month, a newly built McLean mansion sold for $25.5 million to an undisclosed buyer, marking one of the biggest sales in recent years.

The Top 10 Most Expensive Sales in Washington, D.C. Area

Here’s a closer look at the area’s priciest real estate deals:

1. Sale Price: $48 million

Year: 2021 | Location: Alexandria, Va. | Buyer: Dan Snyder | Seller: Michelle and Robert Stevens

Snyder set the record sale in D.C. real estate when he paid $48 million for a 16.5-acre estate that once belonged to George Washington’s Mount Vernon. This estate parts called River View Estate once sold by Lockheed Martin’s former CEO, Robert Stevens, and his wife, have a 16,000-square-foot main house and a guesthouse, carriage house, game room, and an extraordinary wood-paneled library. Snyder just put this estate on the market for $60 million.

2. Sale Price: $43 million

Year: 2018 | Location: McLean, Va. | Buyer: Embassy of Saudi Arabia | Seller: Steve Case

Known as the “Merrywood,” this historic estate was once the childhood home of Jacqueline Kennedy Onassis. AOL cofounder Steve Case sold it to the Saudi government. The address boasts 7 acres with a nine-bedroom Georgian-style main house, complete with a pool, tennis courts, and formal gardens.

3. Sale Price: $42.7 million

Year: 2020 | Location: McLean, Va. | Buyer: 600 CBR LLC | Seller: James V. Kimsey

This three-acre or so estate features an Italianate mansion with four kitchens, among other owners, once a Frank Lloyd Wright-designed piece of architecture, and was expanded to over 10 acres with the purchase of additional land. The combined total came to approximately $94 million.

4. Sale Price: US$35 million

Year: 2017 | Location: McLean, Va. | Buyer: 750 CBR LLC | Seller: Dwight Schar

It is reported that the housing mogul, Dwight Schar, has sold his custom mansion to an unnamed buyer for $35 million. The property measures 6.5 acres and carries a 12,000-square-foot home, thus ranking as one of the noted off-market sales in this area.

5. Sale Price: $25.5M

Year: 2024 | Location: McLean, Va. | Buyer: Not Disclosed | Seller: Kyle and Roger Mody

The Cliffs, a new estate with a professional-style indoor basketball court, recently sold for $25.5 million. Previous owners of the estate included Roger Mody, former Chief Executive of Signal, and his wife, part-owner of the Washington Wizards.

6. Sale Price: $24.5 million

Year: 2005 | Location: McLean, Va. | Buyer: Steve Case | Seller: Joanne and William E. Conway Jr.

Until then, Merrywood was sold in 2005 to Steve Case, one of the larger real estate investors in the D.C. area, for what, at the time, was a record price. The Conways had owned the estate since 1999, when they purchased it for 15.5 million dollars.

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7. Sale Price: $24 million

Year: 2020 | Location: McLean, Va. | Buyer: 600 CBR LLC | Seller: Norma and Russ Ramsey

Mysterious 600 CBR LLC added to their holdings, adjacent to the Kimsey estate, paid $24 million for 2.95 acres from Russ Ramsey of Ramsey Asset Management.

8. Sale Price: $24 million

Year: 2020 | Location: McLean, Va. | Buyer: Sirena Holdings LLC | Seller: Janice C. Smith

The 6-acre estate known as “Little Falls” includes an indoor pool and terraces. It was sold by Janice Smith, ex-wife of former ABC News correspondent Sam Donaldson.

9. Sale Price: $23 million

Year: 2016; Location: Washington, D.C.; Purchaser: Jeff Bezos; Seller: Capital Star Property

Within a couple of years after Bezos bought the Washington Post, he spent another $23 million to buy two historic mansions in the Kalorama neighborhood. The 27,000-square-foot property has since been used to host high-profile parties.

10. Sale Price: $23 million

Year: 2022 | Location: McLean, Va. | Buyer: 600 CBR LLC | Seller: Chuck and Lynda Robb

Continuing to expand their land holdings, the buyers of the Kimsey estate spent $2.6 million for an additional 3.92 acres from Chuck Robb, the former U.S. Senator and Governor of Virginia. The Robbs’ existing house was destroyed in a fire, contributing to the sale.

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Conclusion 

While the Washington, D.C. area’s luxury real estate market may not reach the astronomical price levels of America’s most expensive cities like of New York, London, or Los Angeles, it maintains a distinct charm and appeal, rooted in its historic significance, political prominence, and exclusivity. The region’s “Gold Coast” along the Potomac River is home to a steady demand from government officials, business leaders, and high-profile buyers who value its privacy, scenic views, and proximity to the capital. With stable prices and iconic properties, D.C.’s luxury market represents a unique blend of history, prestige, and high-end living that continues to attract discerning buyers seeking more than just a home, but a piece of American heritage.

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