Photo by Joe Flood

So you think owning a $1 million home in D.C. will make you fancy? Think again.

According to an analysis done by the the Office of Revenue Analysis blog District, Measured, $2 million homes are the new luxury. Since 2001, sales of homes valued at more than $1 million have seen a 15 percent increase in D.C.

Courtesy of District, Measured

Currently, 4.3 percent of all homes in the District are sold for $2 million or more. Given the upward trend in prices, “it may not be too long before” it hits 5 percent, the post’s authors said. Georgetown currently accounts for nearly one-third of sales of such homes.

Courtesy of District, Measured

If D.C. wants to align itself with other expensive housing markets in the nation “where $1 million no longer carries the same cachet and exclusivity that it did ten years ago,” it should consider adding another million to its definition of luxurious living, the authors say. .

And while you balance your checkbook, check out the 10 most expensive homes sold in the D.C. area last year. They range from $6 million to just over $20 million.