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: 1509 U St SE
Legal Subdivision: Anacostia
Advertised Subdivision per Listing: Anacostia
Bedrooms: 3 Baths: 2.5 Basement: Unfinished cellar Parking: Driveway/Off Street
Ownership: Fee Simple
Original List Price for this listing: $399,000
List Price at Contract: $399,000
List Date: 07/30/15
Days on Market: 11
Settled Sales Price: $368,000.
Seller Subsidy: $11,040.
Settlement Date: 09/24/15
Transaction type: Standard
Original GDoN post is: here.
The original listing can be seen here: here.
Ten years ago, in “needing cosmetic updates” condition, this detached single family home in Anacostia, a few blocks from the Frederic Douglass National Historic Site and Anacostia Arts Center, sold for $170,000. In 2009, in what appears from the pics to be about the same condition it is in now, the home sold for net $291,000.
As housing in other parts of the city continues to see a decrease in affordability, prices east of the river remain relatively lower, but have also been heating up. Although there were fewer homes sold in Anacostia in 2015 year to date than in 2014, the total sales volume was up. The current median sales price in the legal subdivision of Anacostia has increased from $190,000. for the same year to date period in 2014 to $267,500. for year to date 2015 (up 41.79%). For the same comparison periods, days on market have decreased from an average of almost two months on market to about three weeks. Months of supply (based on inventory and absorption rate) has decreased from a balanced 5.4 months of supply to a more seller-weighted 4 months of supply.
You can see current active house listings in Anacostia here. This snapshot of available fee simple inventory includes homes listed in a range from $165,000. all the way to $800,000.
The listing agent for this sale was Reginald Francois with Property Specialists Realty. Aty Biswese with Nid Group, LLC represented the buyer.