Hipchickindc is a licensed real estate broker. She is the founder of 10 Square Team and is affiliated with Keller Williams Capital Properties. 10 Square Team is a princeofpetworth.com advertiser. 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: 1454 Euclid St NW #5
Legal Subdivision: Columbia Heights
Advertised Subdivision per Listing: Columbia Heights
Original List Price 1st Listing: $439,000.
List Price at Contract: $419,000.
List Date: 07/07/2011
Days on Market: 147
Settled Sales Price: $395,000.
Settled Price Per Square Foot: $436.
Settlement Date: 12/30/2011
Seller Subsidy: $0.
Bank Owned?: No Short Sale? No
Type Of Financing: Conventional
Original GDoN post is: here.
The listing can be seen: here. Here is the virtual tour .
Meridian Hill Condominium is an eight unit conversion dating from the early 1990’s. There appear to be at least a couple of original owners, who no doubt have seen dramatic change to the neighborhood over the past two decades. Those original owners were smart to hold on though, as prices to buy these condos new were sub-$100,000. The subject property, unit five, was first purchased for $71,400. in May 1992. It later sold in June 2000 for $96,000.
For this listing, the unit remained on the market for 147 days before going under contract, which is a long time in relation to typical Good Deal or Not (GDoN) properties (the past ten GDoN Revisited properties averaged 17 days on the market). Although the original list price of $439,000. seems fairly reasonable for a duplex boutique condo with an attractive Victorian exterior, that put the price per square foot up into the high $400’s. While brand new high end condos in Columbia Heights can fetch into the mid $500’s per square foot, the final price of this unit reflects the differential of an older style unit.