Hipchickindc is a licensed real estate broker. She is the President of 10 Square Real Estate. 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: 3521 17th St NE
Legal Subdivision: Brookland
Advertised Subdivision per Listing: Brookland
Bedrooms: 3 Baths: 1.5 Parking: Listing says “off site” Ownership: fee simple
Original List Price: $440,000.
List Price at Contract: $440,000.
List Date: 02/25/2015
Days on Market: 9
Settled Sales Price: $450,000.
Seller Subsidy: $0.
Settlement Date: 04/20/2015
Transaction type: Per listing, “Other/Undisclosed”
Original GDoN post is: here.
The original listing can be seen here: here.
This property was on the market in February. The transaction type in the listing (this is where information such as being an estate sale or foreclosure is noted) is identified as “Other/Undisclosed”, so we don’t really know why it took two months to settle. Generally, if the transaction type is anything other than “Standard”, there could be some aspect of the deal that takes some time to be resolved, sometimes through third party approval (such as a representative of an estate, or an asset manager at a bank).
As was noted in the comments, properties in this ready to renovate condition have been wildly competitive to attain, so it is of interest that the price only escalated $10,000. above list.
Completely anecdotally, since we won’t see the numbers to tell the full story until after the fact, the current DC Spring real estate market is running at a ridiculously fast pace with incredible momentum. Considering that interest rates are about a point lower than they were a year ago, with expectations that they will creep up again this summer, and extremely low listing inventory, expect to see DC housing purchase prices increase over the next few months.
The listing agent for this sale was Kas Divband with Redfin Corp. Atieno Okelo with DC Home Buzz represented the buyer in this transaction.