GDoN Revisited by Hipchickindc – 3815 24th St, NE

GDoN-revisited

Hipchickindc (aka Suzanne Des Marais) is a licensed real estate broker. She is an associate broker with Bediz Group, LLC at Keller Williams Capital Properties . 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 and/or Real Estate Business Intelligence (RBI), a subsidiary of MRIS. Information is deemed reliable but not guaranteed.

Featured Property: 3815 24th St NE
Legal Subdivision: Woodridge
Advertised Subdivision per Listing: Woodridge
Bedrooms: 4 Baths: 2.5 Parking: Faces rear, concrete driveway Ownership: Fee simple
Original List Price: $599,000.
List Price at Contract: $599,000.
List Date: 12/05/2015
Days on Market: 21
Settled Sales Price: $599,000.
Seller Subsidy: $17,885.
Settlement Date: 1/11/2016
Transaction type: Standard

Original GDoN post is: here.

The original listing can be seen here: here.

There has been a lot of attention paid to some homes in the NE DC neighborhood of Brookland recently hitting million dollar price points. The subject property is located in the adjacent neighborhood of Woodridge, directly east of Brookland, which saw five homes sell in 2015 between $805,000. and $849,999. (the highest price to date in Woodridge).

As noted in the comments on the original Good Deal or Not post, Woodridge is further removed from Metro and the retail development happening in Brookland. Regardless, Woodridge is attracting plenty of home buyers. The average home price in Woodridge at $498,450. actually eclipsed Brookland’s average price of $474,359. in December 2015.

The listing agent for this sale was George Kilmes with Re/Max Professionals. Melanie Hauer with Keller Williams Capital Properties (per above disclosure, the same brokerage company that the writer is affiliated with) represented the buyer in this transaction.

8 Comment

  • If you need further proof of the absurdity of the DC housing market, a $600K home in Woodridge is it.

    • Dumb thing to say. This house is 2-3 blocks from a G8 bus stop, which is a quick trip to the Brookland metro or a single-seat ride downtown. It’s also about 5 blocks from a commercial strip that already has a trendy small plates restaurant (Nido) and a hip coffeeshop (Zeke’s). This area of DC might not be loaded with mixed-use luxury apartment buildings yet (though they’re starting to crawl up Rhode Island Ave. already), but it’s not an awful place to live. To say nothing of the relatively large square footage we’re talking here.

    • Anonomnom

      Agreed with Anon above. Also, I looked through the pictures and it is a cute, updated 4 bedroom. Not terribly shocked that it went for what it did, even if it is an increase in property value in that neighborhood.

  • It went for asking with a substantial seller subsidy, which means it couldn’t command asking, so maybe the market in Woodridge is less hot than some people thing.

    • Is less than a 3% subsidy considered substantial?

      • Given the amount, the sellers likely just paid closing costs which isn’t unreasonable for a house that had been on the market for a few weeks.

    • Woodridge is a big area, so I really think it depends on where the house is and walking distance to the metros (RI & Brookland). My previous home was Michigan Park on paper, but the first house in MP and literally across the street was Brookland. Maybe it was luck, but we had multiple offers, sold it over asking (w/o subsidy) and had a contract within a few days of listing. Friends closer to the RI metro with a Woodridge address had a similar experience.

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