Good Deal or Not Revisited (GDoN-R) is a weekly post that reviews the settled sales data of a recent individual real estate transaction in the District of Columbia. Each post is a snapshot of the real estate market at a particular moment in time. GDoN-R generally posts on Friday in the late morning.
GDoN-R has been written exclusively for PoPville since 2009 by Suzanne Des Marais. Suzanne is a practicing Realtor with the 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 Smartcharts by Showingtime). Information is deemed reliable but not guaranteed.
Featured Property: 1850 L St NE
Legal Subdivision: Trinidad
Advertised Subdivision per Listing: Trinidad
Bedrooms: 2 Baths: 1.5 Parking: Driveway/Off Street Ownership: Fee Simple
Original List Price: $459,950.
List Price at Contract: $449,950
List Date: 08/26/2016
Days on Market: 47
Settled Sales Price: $451,000.
Seller Subsidy: $0.
Settlement Date: 11/15/2016
Transaction type: Standard
Original GDoN post can be seen: here.
The listing can be seen here: here.
This property was listed prior to Labor Day. Inventory of active listings was seriously low at that moment, and the number of homes newly listed for sale shot up in many neighborhoods across DC the weekend following Labor Day. Buyers were in and out of town over the summer, making the buyer pool somewhat unpredictable. Agents were also reporting that many buyers at that time were waiting to see what new listings would come on the market after Labor Day.
While it sometimes seems like every house in DC sells over list price within the first week of launch, this home took a month and a half. (which feels like forever in DC real estate market time) and a $10,000. price reduction. Rather than going under contract from an offer made lower than the original price (we actually do not know whether low offers were made early and the Seller chose not to accept, or if no offers were made prior to the reduction), it sold above the reduced price with $0 subsidy, suggesting at least more than one interested party.
Located north of the H Street Corridor, in the NE neighborhood of Trinidad, this property is of a small scale compared to many DC rowhomes. It was fully gut renovated prior to this listing. You can see what it looked like pre-renovation in the pics on the 2015 listing, when it conveyed for $290,000.
The listing agent for this sale was George Hockaday-Bey affiliated with All Service Real Estate. Kai Zhang with Harbor Realty and Investments LLC assisted the Buyer.