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GDoN Revisited by Hipchickindc – 931 7th Street, NE

by Prince Of Petworth March 14, 2014 at 11:00 am 39 Comments

931-7TH-St-NORTHEAST-e1392394475838

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: 931 7th ST NE
Legal Subdivision: Old City #1
Advertised Subdivision per Listing: Capitol Hill
Bedrooms: 4 Baths: 3.5 Parking: Street Ownership: Fee Simple Basement: Fully finished English
Original List Price: $768,500.
List Price at Contract: $768,500.
List Date: 2/13/2013
Days on Market: 6
Settled Sales Price: $826,000.
Seller Subsidy: $0.
Settlement Date: 3/7/2014
Bank Owned?: No Short Sale? No

Original GDoN post is: here.

The original listing can be seen here: here. To see pics, click on the camera icon after opening the link.

In reading the comments from the original Good Deal or Not (GDoN) , it is interesting that nobody contested the advertised subdivision in this location. In the mid-2000’s…pre-H Street revival…this area was sometimes referred to as SoFlo. At this point, we might expect that proximity to H Street would encourage reference to “H Street” as a neighborhood (similar to “U Street” in NW).

Real estate stats for DC were released this week for February 2014 by Real Estate Business Intelligence (RBI), a subsidiary of MRIS. Condo prices remained fairly stable year-over-year (comparing February 2013 to February 2014). It is important to note that active inventory for condo listings was actually higher in February 2014 than the prior February. I mention that only because it significantly contrasts the story of what is going on with houses. Inventory for available houses for sales is down year-over-year by over 15%. Not surprisingly, supply and demand is in play as houses are getting bid up (like this one) and the median price for houses is concurrently up 15% from last February. This was the second highest sale for a house in this neighborhood over the past six months.

The listing agent was Tom Faison with RE/Max Allegiance and the buyer was represented by Crystal Crittenden of Coldwell Banker Residential Brokerage.

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