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GDoN Revisited by Hipchickindc

by Prince Of Petworth January 8, 2010 at 11:00 am 16 Comments

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In real life, hipchickindc is licensed as a real estate broker in the District of Columbia, and as a real estate salesperson in Maryland. 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: 1838 Monroe St NW

Original List Price: $599,000.

List Price at Contract: $599,000.

List Date: 11/13/2009

Days on Market: 6

Settled Sales Price: $659,000.

Settlement Date: 12/22/2009

Seller Subsidy: $0.

Bank Owned?: No

Type Of Financing: Conventional with a $326,310. down payment

Original GDoN Post is: here.

Recent Listing is: here.

Good Deal or Not (GDoN) commenters were quite optimistic about this property. There was some discussion regarding, um, some safety matters on the block, but one anonymous reader went as far as to say, “I think the Hipchick follow up on this one will show it goes for 25k over asking.” It actually ended up selling a hefty $60,000. above the list price.

Entering a new decade has prompted me to review real estate numbers over the past ten years for specific neighborhoods. I’m seeing some interesting contrasts. Not all neighborhoods in DC have responded the same to the erratic changes in the marketplace. If this information is of interest, I will include it in future posts for other neighborhoods. See below for a picture of the real estate activity in Mount Pleasant. Note that this set of data focuses on single family houses, and excludes condos. Data after the jump.

Year # Units Sold Average NET High NET Average Net Price/ Average Days on Market

Sales Price Sales Price List Price=%

2009 52 $671,232. $995,000. 97.83% 40

2008 68 $696,987. $1,482,501. 92.86% 46

2007 76 $747,450. $1,150,000. 100.37% 33

2006 88 $732,470. $1,635,000. 99.17% 34

2005 98 $775,910. $1,367,644. 103.38% 16

2004 92 $661,525. $1,164,100. 103.52% 18

2003 84 $544,946 $903,000. 101.94% 21

2002 120 $506,376. $875,000. 101.23% 21

2001 98 $498,945. $7,000,000. 102.16% 33

Recall that 9/11 disrupted No, not a typo
the real estate market that year

2000 134 $345,266. $800,000. 100.65% 23

1999 122 $285,136. $503,000. 98.64% 26

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