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GDoN Revisited by Hipchickindc – 1208 Gallatin Street, NW

by Prince Of Petworth November 21, 2014 at 10:40 am 9 Comments

DC8471088 - Exterior (Front)

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: 1208 Gallatin St NW
Legal Subdivision: 16th Street Heights
Advertised Subdivision per Listing: 16th Street Heights
Bedrooms: 4 Baths: 3.5 Parking: Concrete Driveway Basement: Fully Finished Ownership: Fee Simple
Original List Price: $779,900.
List Price at Contract: $749,900.
List Date: 10/2/2014
Days on Market: 13
Settled Sales Price: $737,500.
Seller Subsidy: $0.
Settlement Date: 11/14/2014
Bank Owned?: No Short Sale? No Estate: No
Original GDoN post is: here.
The original listing can be seen here: here.

There were some comments in the original Good Deal or Not (GDoN) post about the sales history of this property, so here is are the links with pics:

The earliest listed sale of this property that we have access to data on is this 2011 listing, which shows the property condition as not fancy and staged, but definitely livable. You can see pics on that link (click the camera icon to the left once you open the link). So, in 2011, in livable condition the home sold for $315,000. Three years ago.

A little over six months later, the home was updated and sold for $640,000. and you can see those pics on this link.

A little more than two years later, the current sale occurred (see subject link above) in basically the same condition as the previous sale and very close to $100,000. in added market value.

On the original GDoN post, one commenter expressed concern at this ascent in price. According to Real Estate Business Intelligence, the median price for detached homes in the 16th Street Heights neighborhood during the third quarter of 2009 was $519,900. In the third quarter of 2014, that median price had gone up to $777,000. As we’ve seen in other Good Deal or Not reviews of neighborhood value history, this type of increase is not unusual for neighborhoods in the District of Columbia.

The listing agents were Melinda Estridge and Scott Sachs of Long and Foster. Chris Fries of McInearney Associates, Inc. represented the buyer in this transaction.

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