Sold in 162 Days for $3,500,000

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 Smartcharts by Showingtime). Information is deemed reliable but not guaranteed.

Featured Property: 2931 University Terrace NW
Legal Subdivision: Kent
Advertised Subdivision per Listing: Kent
Bedrooms: 6 Baths: 6 full & 2 half Parking: Attached 2 car garage Ownership: Fee Simple
Square Footage per listing: 9431
Original List Price: $3,995,000.
List Price at Contract: $3750,000.
List Date: 03/07/2016
Days on Market: 162
Settled Sales Price: $3,500,000.
Seller Subsidy: $0.
Settlement Date: 09/29/2016
Transaction type: Standard

Original GDoN post can be seen: here.

The listings can be seen here: here.

Located in the Kent neighborhood in very west NW DC, this expansive detached single family home on over a quarter of an acre lot ultimately sold over 10% below the original list price. Built in 2004, the property sold for $250,000. dollars more in 2004 than it did in 2016. Yes, you read that right. In November 2004, the listing settled for $3,750,000. and in September 2016, it settled for $3,500,000.

Properties available in the Kent neighborhood are primarily single family detached homes. As of August 2016, the average sale price in the area was $1,358,333. Average days on market, also reported from August sales data, was 87 days. Except for January and April of 2016, when settled sales prices averaged slightly above list price, the average list to sales price ratio ranged from less than one percent to almost five percent below list for 2016 so far. There are currently eleven active listings in Kent, spanning in price from $929,000. to $7,895,000.

The listing agent for this sale was Michael Rankin with TTR Sotheby’s International Realty. Liz Lavette with Washington Fine Properties represented the Buyer.