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138 Days on the Market – Sold in 16th Street Heights

by Prince Of Petworth June 3, 2016 at 10:55 am 25 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: 1314 Farragut St NW
Legal Subdivision: 16th Street Heights
Advertised Subdivision per Listing: 16th Street Heights
Bedrooms: 6 Baths: 4.5 Parking: Driveway/Off Street Ownership: Fee Simple
Lot Square Footage: 7085
Original List Price: $1,500,000.
List Price at Contract: $1,275,000.
List Date: 12/18/2015
Days on Market: 138
Settled Sales Price: $1,225,000.
Seller Subsidy: $0.
Settlement Date: 05/25/2016
Transaction type: Standard

Original GDoN post is: here.

The listing can be seen here: here.

Located east of Rock Creek Park between Piney Branch Road and Georgia Ave NW, this renovated detached home started with an ambitious list price of $1,500,000. Commenters to the original GDoN post were skeptical. The home ultimately sold at 82% of original list price.

16th Street Heights, which is known for large detached single family homes, saw the first seven figure sale in 2003. Since that time, the regional multiple listing service reports a total of 33 transactions over a million dollars. As of April 2016, the median sales price for detached homes in the neighborhood was $1,185,000. That number can fluctuate quite a bit (for example, median sales price for detached homes was $862,500. in March, and $1,115,000. in January).

The listing agent for this sale was Kelvin Reaves with Re/Max Allegiance. Tom Buerger, also with Re/Max Allegiance represented the Buyer.

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