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Sold in Seven Days – 310 Todd Pl NE #1

by Prince Of Petworth January 13, 2017 at 10:40 am 6 Comments

eckington-gdonr

Good Deal or Not Revisited (GDoN-R) is a weekly post that reviews the settled sales data of a recent individual real estate transaction in the District of Columbia. Each post is a snapshot of the real estate market at a particular moment in time. GDoN-R generally posts on Friday in the late morning.

GDoN-R has been written exclusively for PoPville since 2009 by Suzanne Des Marais. Suzanne is a practicing Realtor with the 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: 310 Todd Pl NE #1

Legal Subdivision: Eckington
Advertised Subdivision per Listing: Eckington
Bedrooms: 2 Baths: 1 Parking: Assigned Ownership: Condo
Square Footage per tax record: 764
Original List Price: $320,000. List Price at Contract: $320,000.
Monthly Condo Fee: $179.00
List Date: 11/30/2016 Days on Market: 7
Settled Sales Price: $340,000.
Seller Subsidy: $0.
Settled Price per Square Foot: $445.
Settlement Date: 1/10/2017
Transaction type: Standard

Original GDoN post can be seen: here.

The listing can be seen here: here.

I believe this is the third Revisited that was listed following the election. I am noting this because we have seen potentially significant impact of the election results to the real estate market in the form of increasing mortgage interest rates.

This affects what buyers can afford by increasing their monthly payment. It may push a number of buyers into looking at lower price ranges, or in some case, even force them out of buying in the high cost DC market.

I don’t expect that a change in Admin means that we’ll have an additional influx (above our already 1000+ per month net growth figures for the District of Columbia). I am very curious to see if buyers really push activity early in the year to lock in interest rates. Inventory of homes actively listed for sale remains super low, especially as Sellers are hesitant to list during cold and potentially bad weather months.

The listing agent for this property was Chelsea Traylor with Redfin Corp. Stu Naranch, also with Redfin Corp assisted the Buyer.

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