Redfin Picks Petworth as one of the “DC Area’s Hottest Neighborhoods” of 2013


Photo by PoPville flickr user a.w.miller

From an email:

Today Redfin announced a list of the hottest emerging neighborhoods and small cities for real estate in 16 cities across the country. The top three neighborhoods to watch in the Washington Area are Pimmit Hills in Fairfax, Petworth in Northwest DC and Fallsmead in Rockville. The ranking is based on input from Redfin real estate agents and analysis of current market data, including the number of homes for sale, sales volume, home prices, and sale-to-list price ratios. Below is the data for each neighborhood and a quote from a Redfin agent on why each neighborhood is so hot right now, comparing December 2012 data to that of December 2011:

Washington DC Area #1: Pimmit Hills, Fairfax, VA

“Pimmit Hills is right between the commercial haven and employment hub of Tyson’s Corner and Charming main street-esque Falls Church City. With an abundance of flat large lots, enhancement of the Tyson’s Corner area and additional transportation options Pimmit Hills looks to be a popular place for years to come.” -Redfin Agent Rob Wittman

Washington DC Area #2: Petworth, Northwest DC

“Petworth has easy access to exciting new corridors of restaurants and night life. In most places you are just a short walk to new restaurants by some of DC’s up-and-coming chefs and owners. New buildings, grocery stores, and renovations are being completed every day giving the neighborhood a rejuvenated and exciting feel.” -Redfin Agent Michael Alderfer

Washington DC Area #3: Fallsmead, Rockville, MD

“Fallsmead is in a highly desirable school district, and is close to the highway but doesn’t have highway noise. It has a lot of mid-sized homes and is a short distance to many centers of employment. There haven’t been many homes coming on the market lately, so the homes that do go on sale have had multiple offers made on them.” -Redfin Agent Philip Gvinter

44 Comment

  • where do you find the full article?

  • Bought my house in Petworth in 99′ for $100k. Just finished putting $250k into it for renovation. It’s now valued over $700. I think this is an understatement. I am extremely lucky to live in Petworth, a rare DC neighborhood that offers easy commutes to MD or VA, you can still see the sky from the street, we have plenty of great growth on the way, and plenty of investment opportunity and new retail moving in. If companies and investors can’t see that then it’s better they don’t move in! Yay for us!

    • What’s the easy commute to VA? Because we just moved to North Petworth and I’m having a hell of a time getting out of DC

      • Excellent question!

      • Rock creek Parkway to VA.
        13th to Military to 16th to GA ave. for MoCo, MD
        New Hamp Ave to 495 to 95
        N. Cap to NY Ave. to Annapolis to the Shore

        pretty easy stuff

      • arkansas ave nw (in btwn 16th and 14th st NW) to piney branch pkwy to beach drive to rock creek pkwy to I66-W. my girlfriend leaves DC around 7am and gets to dulles in about 45min. this is the easy way IF you beat the morning rush.

      • jim_ed

        We live in North Petworth, and head to virginia fairly frequently, so here is how we get out of the hood.

        Georgia Ave to Arkansas to Rock Creek if you’re trying to head west on 66. To South on 395, the easiest way is N Cap to Mass/NY (choose whichever seems less congested) to 395. Depending on where you are in the neighborhood it might be different, but I’ve found Hamilton easiest heading towards north cap and gallatin heading back from it.

        • Fellow North Petworth resident here:

          Not sure when you are heading to 395, but RCP is very viable as well. We take the Virginia Ave left to get on 66, but to 395, we just stay straight on RCP, and then follow it across the Arlington Mem Bridge. Take the first exit out of the round-about, and stay left. That puts you on Washington Blvd, which runs head-on into 395, and goes right by the Pentagon.

        • I try and avoid NY Ave because those few blocks between N Cap and 395 can be brutal. ESPECIALLY if it is the morning rush.

        • Thanks everyone! I was interested in taking RCP but was hesitant because we are more in the northeastern corner closer to North Capitol so I thought it would waste too much time cutting over to Piney Branch/Blagden. It’s so congested getting onto 395 though that I’ll have to experiment with an open road running East to West through Petworth, it took me close to 45 mins to get out of DC this morning!

          • This is starting to sound like that SNL sketch “The Californians.”

          • Awesome.

            “Devon! Ooooooooooooowwwwwwwhaaaattttttt’re yooooouuuu dooing haaaaaaare?

          • May be too late for this response, but I commuted to Ballston from NE Petworth: took 5th Street down to Rock Creek Church, turned right and followed along the Old Soldier’s Home, then around the reservoir to go through Howard University. Then took New Jersey Ave right down to the top of 395. My experience with Rock Creek Parkway was that it took way too long waiting on Piney Branch to actually get onto the Parkway.

      • I gotta say, living in Columbia Heights, driving out of the area is really tough. Being smack dab in the middle of town makes life somewhat difficult driving-wise. And with all the constant construction on 16th St and RCP, it’s tough getting to VA. Same going N to MD.

      • Just a stones throw from VA but a miserable journey

    • Totally agree. We feel quite lucky. We bought in Oct of ’10 for $250k, and though we have put probably $20k into the house, our recent appraisal put us at $335k. Plus we love the area, quiet at night, but close to everything.

      • “Bought my house in Petworth in 99′ for $100k. Just finished putting $250k into it for renovation. It’s now valued over $700.”

        1. You don’t know it’s worth “over $700″ until someone writes you a check for that amount.

        2. For a house to double in value in this area (from 350 to 700, which takes into account the cost of the renovations) over the last 13 years is not unique to Petworth.

  • Petworth Heights is so incredibly boring! I just can’t stand it anymore.

  • Bought a mostly renovated row house in 11/10 for $630K. Haven’t really put anything into it, but am refinancing, and am anxioius to see if there’s been any uptick in the appraisal value (which = the purchase price in 11/10).

  • The area around the metro is what usually comes to mind when people picture Petworth. However, from a geographic standpoint, that is the very southern-most point, and with respect to vibe it poorly represents the other 95% of the space that makes up the neighborhood. The bread and butter of living in Petworth are quiet residential streets. From a real estate perspective there is tons of housing stock that will be coming on the market in the coming years. With that should be a dramatic shift in the look of the retail. The new Safeway being constructed just north of the metro should make a positive difference in the daily lives of those in the area, but I believe that is the tip of the iceberg in terms of changes.

    • Besides GA Ave., I’m unsure of how much retail potential actually exists. A lot of Petworth as you mention is ‘quiet’ (used lightly) residential streets, particularly as you extend up New Hampshire. The area around the metro may be it’s fairest attribute when it comes to actual destination spots.

      Public transportation also doesn’t have the best coverage, similar to H Street NE, as opposed to true ‘hot neighborhoods’ i.e. Adams Morgan/U Street. Without this, retail is even less likely to thrive.

      That said, look for those late to the party continue to pay exorbinant amounts of money for ‘prime’ home location in a part of town that continues to see its share of crime, further deterring investment.

      Clean up the streets first, then bring in the money.

      • Intersting, even though I bought a home here last year and try to be optimistic, I tend to agree. The northern part of Petworth (further from GA) is kind of a no man’s land and that area around the metro is the “sexy” Petworth, parts of which some may argue is Columbia Heights. propery values have certainly reflected that.

        I’m not sure how much development can come north of the circles and east of GA Ave, but I’d definitely like to be proven wrong. I already consider my family late to the Petworth party and sometimes wish I would have taken a look across North Capitol and saved about 200k.

        • Parts of the area near the Metro actually ARE Columbia Heights.

          Most of the area to the south of the Metro station is Park View.

        • Articles like these should surely help boost your home’s appeal. Look at what has happened across North Capital as you mentioned with Trinidad and Brookland! For what reason other than ‘upside’ have attracted people to the area?

          I can see the appeal for developers with deep pockets (aided by cheap money – mind you) to scarf up homes in these areas for cookie-cutter developments (see: Arlington).

          The young families who at least at one point used to purchase these kind of homes in these kind of areas are forced out of the market due to lending restrictions and inflated prices.

      • Yes, this is important. If you’re the type of person to whom this comment speaks to, please do not move here.

    • saf

      “The new Safeway being constructed just north of the metro should make a positive difference in the daily lives of those in the area,”

      No. It is going to block the sun and increase traffic. That is not positive.

      • Saf, if I were in your shoes (owning a house whose light is going to be partially blocked by the new, taller Safeway), I’d be annoyed too.

        However, this will be a good thing for the neighborhood overall. I’m hoping that it will spur revitalization the way the Whole Foods did in Logan Circle, and the way the City Vista Safeway has in NoMa. (Although in the latter case, the Safeway was maybe more a product of revitalization than a catalyst for it.)

        I don’t deny that the new Safeway will be something of a pain for its immediate neighbors… but its presence should boost your property values and should help the area near the Georgia Ave.-Petworth Metro to really take off.

        • saf

          Yeah, have you been to the CityVista or SW Safeways lately? They have the same problems our old Safeway had, just in newer buildings. Safeway corporate makes lousy neighbors. Bad product and bad maintenance/security records.

          Add the fact that they are running the parking entrances through the alley by the houses (one at each end of the block), and it gets more annoying.

          As for revitalization – we’ve come a long way baby. This is, as was CityVista, as was SW, because of what has already happened. It is not going to be a net driver of development.

          • Not sure how often you go to the SW Safeway, but we go at least twice a week. We have a few complaints, but it is ten times better than the old Safeway on that same site and, IMO, the City Vista Safeway.

          • saf

            I’m boycotting Safeway actually. Have been since about 1992. Treat the neighbors like shit, don’t deserve neighbors’ money. That’s my policy.

            However, I go through there regularly, for coffee purposes. I also have spoken to friends who live down there.

            So you have much more direct experience than I do, but not everything I have heard is positive, and not everything I have seen is positive.

  • Trulia’s numbers put Petworth well behind Bloomingdale, Logan, and Dupont in terms of prices increases and in terms of cost per square foot. Bloomingdale in particular is eating Petworth’s lunch. You know what they say about statistics.

    http://www.trulia.com/home_prices/District_Of_Columbia/Washington-heat_map/

    • I would agree with you if this were “Hottest Neighborhoods of 2012″ (or even 2011). As it stands, Bloomingdale has long since “arrived” as a established hood in my opinion (from a real estate perspective)

    • I mean, of course Dupont is more expensive than Petworth… Come on…

      With that said, Petworth is a terrific, close-in place where you can still buy a large rowhouse that a family of two working professionals can afford.

  • No place for retail in Petworth? What about 8th and Upshur, all of GA avenue, Kennedy Street, and the small strip on New Hampshire & Farragut..

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