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“Thus far in 2017, there have been 77 condos settled over $1.2 Million and above.”

by Prince Of Petworth July 21, 2017 at 11:00 am 0

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 intended as a case study and 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: 910 M St NW #712
Legal Subdivision: Old City #2
Advertised Subdivision per Listing: Mount Vernon Square/Shaw
Bedrooms: 2 Baths: 2 Parking: Underground Garage (two spaces) Ownership: Condo
Monthly condo fee: $811.59 Square Footage per listing of interior: 1496
Also includes: Storage Unit, 1300 square foot private roof terrace, Building has elevators, a gym and a roof top swimming pool.
Original List Price: $1,250,000. List Price at Contract: $1,250,000.
List Date: 4/23/2017 Days on Market: 6
Settled Sales Price: $1,250,000.
Seller Subsidy: $0.
Settlement Date: 7/18/2017
Transaction type: Standard

Original GDoN post can be seen: here.

The original listing can be seen here: here.

The Whitman came to life in 2006, during a wave of development in Mount Vernon around the (then new) Convention Center. Large multi-unit high amenity residential buildings popped up in the area seemingly overnight and transformed the downtown Mass Avenue corridor.

Unit 712 is one of two large units with roof decks and two parking spaces to sell in the building in the past few weeks. Unit 714 sold for $1,299,000. These are the highest sales in the building ever. The next highest sale was for a unit on the 10th floor with over 1700 square feet, in 2009, at $990,000.

Seven figure condos are definitely becoming more of a thing in DC. For the same time period in 2013, there were 37 condo sales $1.2 Million and above, with incremental increases yearly in the numbers of luxury condo sales. Thus far in 2017, there have been 77 condos settled over $1.2 Million and above.

Who buys these units? It’s not always the case, but often, Buyers looking for condos (as opposed to houses) in this price point are moving on from larger, high maintenance houses.

The listing agent for this property was Kamyar Kadiver with Brian Logan Real Estate. Natalie Hasny with Capital Residential Properties represented the Buyer in the purchase of this property.

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