GDoN Revisited by Hipchickindc – 1608 Lawrence St, NE


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: 1608 Lawrence St NE
Legal Subdivision: Brookland
Advertised Subdivision per Listing: Brookland
Bedrooms: 3 Baths: 3.5 Parking: Driveway/Off street Ownership: Fee simple
Original List Price: $895,000.
List Price at Contract: $869,600.
List Date: 01/10/2015
Days on Market: 82
Settled Sales Price: $860,000.
Seller Subsidy: $0.
Settlement Date: 05/01/2015
Transaction type: Standard

Original GDoN post is: here.

The original listing can be seen here: here.

Last week, we revisited a home in the NE neighborhood of Eckington that also had an accumulation of days on market. A similar consideration applies here, in that buyers who are missing out in competitive bids on newly listed properties, might be wise to go back and look at some of the inventory that is hanging around. In this case, the property eventually sold for $35,000. less than the original price back in January (remember winter?)

With the Monroe Market development, and 12th Street adding restaurants, Brookland just keeps becoming more appealing. The average price for a detached home in Brookland in 2015 year to date is $668,303. A year ago, for the same time frame, the average sold price of a detached single family house was $516,181.

The highest sale price to date in Brookland was at $998,000. this year for 1523 Monroe St NE. Brookland saw its first sale over $900,000. in summer of 2014. Since that time, there have been a total of nine sales at $900,000. or above.

The listing agent for this sale was Jameela Charles with Home Source Real Estate Solutions. Ed Carp with Continental Properties, Ltd. represented the buyer in this transaction.

3 Comment

  • justinbc

    Brookland seems to be really taking off (it has been for a while, but the sales data is finally catching up to validate it). I’m kind of bummed that it somehow wasn’t picked up in my search parameters when we were looking 2 year ago. I love where we wound up now, but I know we could have gotten a lot more house up there. I probably still would have chose this place in Capitol Hill, but still annoyed at myself for not even checking out Brookland to see what was available.

    • Thing is, you still CAN get more house for the money. A flipped row home with no basement and no charm in the less desirable parts of the Hill can easily fetch more than $800k. An $800k house in Brookland is going to be something special, and since the neighborhood has been fairly stable over the years there a lot more well-preserved homes.

      • brookland_rez

        That’s what drew me to Brookland 6 years ago. Seems like the masses are finally realizing how nice it is up here.

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