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GDoN Revisited by Hipchickindc – 123 T Street, NW

by Prince Of Petworth January 4, 2013 at 11:00 am 96 Comments

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 popville.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: 123 T St NW
Legal Subdivision: LeDroit Park
Advertised Subdivision per Listing: Bloomingdale
Original List Price: $924,900.
List Price at Contract: $899,900.
List Date: 10/05/2012
Days on Market: 46
Settled Sales Price: $864,300.
Seller Subsidy: $15,000.
Original List to Net Sales Price Ratio: 91.83%
Final List to Net Sales Price Ratio: 94.38%
Settlement Date: 12/28/2012
Bank Owned?: No Short Sale? No
Original GDoN post is: here.
The listing can be seen: here. To see pics, click on the camera icon after opening the link.

Whenever a Good Deal or Not (GDoN) post garners seventy seven comments, it’s definitely worth a re-visit. Like it or not, the Bloomingdale and LeDroit Park neighborhoods have definitely experienced a price spike within the past year. Although this property settled at a net price a fair amount below the original list, it remained within 10%. For so many of you who were incredulous at this listing, I hate to say it, but with such continued low inventory and high demand, I expect the 2013 Spring market to bring another wave of price bumps.

Here are some other recent sales of gut renovated homes in the neighborhood of similar size (two levels with an inlaw suite or separate English Basement apartment):

1934 2nd St NW settled November 2012 for $800,000.
2010 1st St NW settled May 2012 for Net $798,500. (This was my listing)
113 R St NW settled November 2012 for Net $770,000. (I represented the buyer)
78 S St NW settled in June 2012 for $780,000.

24 R St NW is currently pending with a list price of $809,000.

The listing agent for 123 T St NW was Paula Nesbitt with The Banner Team of Long and Foster Real Estate, Inc. Seth Turner, who represented the buyer, is my colleague at Keller Williams Capital Properties.

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