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: 1464 Harvard St NW #13
Legal Subdivision: Columbia Heights
Advertised Subdivision per Listing: Columbia Heights
Bedrooms: 1 Baths: 1 Parking: Street Ownership: Condo Condo Fee: $287.00/month
Square Footage: 780
Original List Price: $519,900.
List Price at Contract: $519,900.
List Date: 02/23/2015
Days on Market: 14
Settled Sales Price: $512,500.
Seller Subsidy: $0.
Settlement Date: 04/28/2015
Settled Price per Square Foot: $657.
Transaction type: Standard
Original GDoN post is: here.
The original listing can be seen here: here.
A couple of weeks ago, we revisited a one bedroom condo sale a few blocks east you can see here, which sold in a similar range of price per square foot. One bedroom condos in excellent condition in NW DC in the Columbia Heights and Mount Pleasant neighborhoods are currently selling solidly in the $600’s per square foot. As condos get larger, the price per square foot decreases incrementally, such that current pricing for two bedroom condos in the same area generally falls into the $500’s per square foot.
As a listing agent, I am often asked why condos are often priced per square foot (with adjustments for parking, and other amenities or deficits), and houses in DC typically are not. The primary reason is that there are a higher number of variables to consider when pricing a fee simple house. Houses tend to be less consistent in terms of condition, style, use of space, outdoor space, number of levels, etc. Additionally, because square footage can be measured differently by different sources, houses are less likely to have a reliable available number to compare to other houses. Tax records typically identify livable above grade square footage, however, the finished space in a home may not always be accurately reflected, especially since finished basement areas can vary significantly in terms of comfort and function.
The listing agent for this sale was Aaron Jeweler with Long and Foster Real Estate, Inc. Jeff Sasche with TTR Sotheby’s International Realty represented the buyer in this transaction.