GDoN Revisited by Hipchickindc Plus a Look at Mt. P Real Estate Trends

1623 Monroe St NW

Featured Properties: 1623 Monroe St NW and 1612 Newton St NW

Original List Price: $499,000. and $529,000.

List Price at Contract: $499,000. and $499,000.

List Date: 10/09/2009 and 8/26/2009

Days on Market: 4 and 51

Settled Sales Price: $495,000. and $476,000.

Settlement Date: 11/30/2009 and 10/30/2009

Seller Subsidy: $0. in both cases

Bank Owned?: No and No

Type Of Financing: Conventional conforming ($417k or less financed) in both cases

Original GDoN Post is: here for 1623 Monroe St NW and here for 1612 Newton St NW.

Recent Listings are: here.

I know, I did Mount Pleasant last week for Good Deal or Not Revisited (GDoN-R), but there were some issues with the formatting for the ten years of data I compiled, so I thought I’d try again. These two houses were one block from each other, and both on the smallish side, neither with central air, and both ultimately priced the same. Comments on both original GDoN posts complained about the size of both properties and debated the desirability of the location.

What I tried to post last week was a ten year overview of sales data for houses (did not include condos) in Mount Pleasant. The data is not surprising but I think it shows an interesting overall perspective. We see a peak in average sales price in 2005, and as recently as 2007, the average sale was above list price. In 2008, Buyers had a little bit more negotiating room as the average property sold approximately 7% below list price. 2009 Buyers didn’t get to negotiate as much, but it looks like Sellers became somewhat more accommodating in their pricing, since the average sale price was down more than $20,000. Click here to see the report.

3 Comment

  • I am not aware of hardly any houses listing in the last year that would qualify as a $1 million+ house. Most of the rehabs done just didn’t spend the extra money to qualify. Some of the houses that sold in the bubble for $1 million plus were extreme cases of granite kitchens, faux painting and $500 light fixtures.

  • Speaking of Monroe street… The 1639 Monroe rowhouse was snapped for $415K in October 2009 and it was in great shape. The 1641 Monroe place (next to it) was sold for $415K in August 2009. Not bad given a location.

  • Excellent report, Hipchickindc.

    It’s very insightful and revealing compared over so many years.

    Compilations of other neighborhoods would be nice to compare with and see in future columns.

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