GDoN Revisited by Hipchickindc – 2815 Q St, NW

DC8283898 - Exterior (Front)

Hipchickindc is a licensed real estate broker. She is the founder of 10 Square Team and is affiliated with Keller Williams Capital Properties. 10 Square Team is a advertiser. Unless specifically noted, neither she nor the company that she is affiliated with represented any of the parties or were directly involved in the transaction reported below. Unless otherwise noted, the source of information is Metropolitan Regional Information Systems (MRIS), which is the local multiple listing system. Information is deemed reliable but not guaranteed.

Featured Property: 2815 Q St NW
Legal Subdivision: Georgetown
Advertised Subdivision per Listing: Georgetown
Bedrooms: 3 Baths: 2.5 Parking: Street Basement: Yes, Fully finished Ownership: Fee simple
Living Square Footage per tax record: 2010
Original List Price: $1,595,000.
List Price at Contract: $1,595,000.
List Date: 3/4/2014
Days on Market: 9
Settled Sales Price: $1,770,000
Seller Subsidy: $0.
Settlement Date: 4/7/2014
Bank Owned?: No Short Sale? No

Original GDoN post is: here.

The original listing can be seen here: here.

Although sometimes it seems like the majority of DC real estate is out of reach financially to a large majority of residents, the reality is that homes selling between $1,000,000. and $2,500,000. generally make up approximately 8-10% of the market. As the price points go up, that share goes down substantially.

According to RBI, which is the statistics arm of MRIS, the only zip code in the District of Columbia with a median sold price point over $1,000,000. is 20007 (Georgetown/Burleith). The next highest median sold price (probably evened out by the large volume of co-op and condo units in the area) can be found in 20015 (Friendship Heights/Chevy Chase) at $870,000.

The median sold price as of March 2014 for the entire city is $473,125. The lowest median sold price is in zip code 20032 (Congress Heights) at $127,500.

The listing agent was Nancy Taylor Bubes of Washington Fine Properties.

6 Comment

  • This is not meant to be critical. It is being offered just because you brought up some numbers concerning home affordability:
    According to the census, the median household income for DC in 2012 was $65K (side note – this is $10K higher than it was in 2011!).
    Median sale price of $473K equates to a 20% down payment of about $95K.
    Online mortgage calculator says that $65K annual income plus a $95K down payment only gets you a $340K home.
    So I think that much of DC real estate is financially out of reach for most households in DC. Whether that is a good or bad thing is another discussion.

  • I love the snowy branches/shrubs/etc. in the photo.

  • You know, the whole “this zip code has a median sales price of X, this other zip code has a median sales price of Y” is actually really interesting. It would make for a fascinating article (or series of articles) to run some numbers and say in the last 18 months (or however long), the median price for a one bedroom condo was X and the median price for a two bedroom condo or townhouse (a lot of upper NW is little two bed / one bath townhouses) was Y in the following DC zip codes. It might be helpful for those of us looking for a place to know how far our money goes in different neighborhoods.

Comments are closed.