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“Here’s how the Petworth real estate market for houses (no condos) has changed since 2013”

by Prince Of Petworth August 25, 2017 at 10:55 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 Compass. 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 MRIS (Metropolitan Regional Information Systems), which is the local multiple listing system and/or Smartcharts by Showingtime. Information is deemed reliable but not guaranteed.

Featured Property: 4412 3rd St NW
Legal Subdivision: Petworth
Advertised Subdivision per Listing: Petworth
Bedrooms: 4 Baths: 3.5 Parking: Driveway/Off Street Ownership: Fee Simple
Original List Price: $757,000. List Price at Contract: $739,000.
List Date: 6/22/2017 Days on Market: 28
Settled Sales Price: $739,000.
Seller Subsidy: $2950.
Settlement Date: 8/21/2017
Transaction type: Standard

Original GDoN post can be seen: here.

The original listing can be seen here: here.

This classic Petworth porch front semi-detached rowhome not far from Grant Circle, originally built in 1929, was most recently renovated in 2013. At that time, the presentation of the property looked like this (click through link to see pics). In 2013, the newly renovated property sold for $619,000. with a $9285. subsidy, and went under contract within five days of listing.

Notice there’s no staging, which is not typical of current renovated listings and reflects the evolution of norms in the DC real estate market. The 2017 listing is not only staged, but also skillfully professionally photographed, which is another an expectation in the present market for listings in this price point.

Here’s how the Petworth real estate market for houses (no condos) has changed since 2013 (stats reflect beginning of the year through 24 August of that same year):

2013: 175 houses sold, median net settled sales price $480,000., median 9 days on market

2014: 170 houses sold, median net settled sales price $529,500., median16 days on market

2015: 182 houses sold, median net settled sales price $550,000., median 12 days on market

2016: 171 houses sold, median net settled sales price $590,000., median 13 days on market

2017: 173 houses sold, median net settled sales price $648,680., median 9 days on market

The listing agents for this property were Katie Burn and Ira Hirsch with Long and Foster Real Estate, Inc. Nate Guggenheim with Washington Fine Properties, LLC. represented the Buyer in the purchase of this property.

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