GDoN Revisited by Hipchickindc – 1504 Massachusetts Ave, SE

by Prince Of Petworth September 6, 2013 at 11:00 am 2 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: 1504 Massachusetts Ave SE
Legal Subdivision: Old City #1
Advertised Subdivision per Listing: Old City #1
Bedrooms: 2 Baths: 1.5 Parking: Described as both “Other” and “Included in Sale Price”
Living Area Square Footage Per Tax Record: 892
Original List Price: Listed at $499,900. on 17 May 2013
List Price at Contract: $439,900.
Days on Market: 75
Settled Sales Price: $439,900.
Seller Subsidy: $10,000.
Settlement Date: 08/30/2013
Bank Owned?: No Short Sale? No

Original GDoN post is: here.

The listing can be seen: here. To see pics, open the link above and click on the camera icon to scroll through pics.

Per tax records, it looks like the recent owner paid $140,000. in February 2013. After renovating the property, they started with a list price of $499,900. during the hot Spring market days of May. As was noted by commenters on the original Good Deal or Not (GDoN) post, 75 days on the market sure seems like a long time for a property in DC to be on the market.

In July 2013, the average number of days on market throughout all of DC was 35, which was significantly less than the 52 days on market average for last July. In the 20003 zip code that the subject property is in, the average days on market for July 2013 was only 23 (down from 33 in July 2012).

The fastest moving residential zip code in July 2013 was 20004, which is the area around Metro Center. There were nine transactions in that area, with an average of 17 days on market. The slowest moving zip code in July 2013 was 20007, which is Georgetown. There were a whopping 55 closed sales in that single month, with an average marketing time of 92 days. The average price in that area in July 2013 was $1,268,388.

Note that like the GDoN-R sale featured two weeks ago, the subject transaction was financed with a VA loan.

The listing agent was Ana Ron of ANR Realty, LLC. Wemmy Adeboyejo of Century 21 New Millenium represented the buyer.


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