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Sold in Six Days – Kalorama Studio on Belmont

by Prince Of Petworth May 20, 2016 at 10:35 am 28 Comments

GDON R

Hipchickindc (aka Suzanne Des Marais) is an associate broker with Bediz Group, LLC at Keller Williams Capital Properties . 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 and/or Real Estate Business Intelligence (RBI). Information is deemed reliable but not guaranteed.

Featured Property: 2032 Belmont St NW #132
Legal Subdivision: Kalorama
Advertised Subdivision per Listing: Kalorama
Bedrooms: 0 Baths: 1 Parking: Street Ownership: Condo
Square Footage: 386 square feet Monthly Condo Fee: $272.71
Original List Price: $224,900.
List Price at Contract: $224,900.
List Date: 02/25/2016
Days on Market: 6
Settled Sales Price: $224,900.
Seller Subsidy: $1000.
Net Price per square foot: $580.
Settlement Date: 04/30/2016
Transaction type: Standard

Original GDoN post is: here.

The listing can be seen here: here.

This unit is located in one of Kalorama’s numerous high rise buildings surrounded by trees and green space. Tucked away from the hustle and bustle, this area is not far from Adams Morgan restaurants and bars, Rock Creek Park, Woodley Park, and (north) Dupont. The Valley Vista condominium is a large building, with 169 units, built in 1928.

Since the beginning of 2016, there have been a total of 89 settlements of studio units that are condo ownership in all of DC. These range from a 264 square foot unit on Irving Street NW in Columbia Heights that sold for $111,000. (list price at $99,900.) to a 600 square foot high rise loft space on New York Ave NW that sold for $399,900. This time last year, there were only 57 studio condos settled to date. Median time on market for studio units in 2016 so far is 16 days, so they tend to move quickly.

In contrast, there have been well over 400 one bedroom condo units settled throughout the city since January 1st 2016, and at least 400 two bedroom condo units sold in NW alone during that time.

You can see currently active studio units available here

The listing agent for this sale was Vanessa Patterson with Berkshire Hathaway Home Services Pen Fed Realty. Jeff Wu with Keller Williams Capital Properties (per above disclosure, the same brokerage firm as the writer) represented the Buyer.

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