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GDoN Revisited – 5 Grant Circle NW

by Prince Of Petworth June 3, 2011 at 11:00 am 11 Comments

Voted one of the best real estate agents in DC by the Washington City Paper Readers’ Choice Poll in 2009, hipchickindc aka the not-so-hip Suzanne Des Marais is the Principal Broker (DC) for Urban Pace, LLC. She lives (and sells a lot of houses) in Bloomingdale, but works all over DC, with everyone from first time buyers to highly regarded developers. 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: 5 Grant Circle NW
Legal Subdivision: Petworth
Advertised Subdivision per Listing: Petworth
Original List Price: $550,000.
List Price at Contract: $550,000.
List Date: 03/17/2011
Days on Market: 4
Settled Sales Price: $570,000.
Settlement Date: 04/19/2011
Seller Subsidy: $0.
Bank Owned?: No Short Sale? No
Type Of Financing: Conventional

Original Good Deal or Not post is: here.

The listing can be seen: here. To see pics, open the listing link, click on the listing then scroll through from the main pic.

With the recent report of DC being the only market out of twenty tracked by Case Shiller to show positive price gains in the first quarter of 2011, it seemed fitting to profile a home that went under contract in four days and sold $20,000. over the list price. In looking at past sales on Grant Circle, it appears that homes directly on the circle rarely come up for sale, adding further scarcity to the equation of a real estate market with already low inventory.

Continues after the jump.

The property at 6 Grant Circle, which was profiled last Spring, sold for $370,000. as a cash deal. Other than these two sales (three if you count the purchase by the developers of #5 back in November 2010 for $235,000.), there has not been a sale directly on Grant Circle reported in the multiple listing service or tax records since 1998. (For what it’s worth, Sherman Circle has a markedly higher rate of turnover in recent years).

There have been several recent sales over $500,000. within a quarter mile of Grant Circle. Currently, there are nine active listings in the vicinity.

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