Real Estate

Real estate: What $1.28 million buys in DC suburbs

Jessica Vanacore

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

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 townhome built in 1992. It's listed at $1,275,000. The home is 3,200 square feet.