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“Remember when $600,000. seemed like a lot to pay for a house in DC?”

by Prince Of Petworth September 15, 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: 1240 K St SE
Legal Subdivision: Not noted (just means the agent didn’t autofill via the tax record)
Advertised Subdivision per Listing: Old City/Capitol Hill/Hill East
Bedrooms: 2 Baths: 1.5 Parking: Street Ownership: Fee Simple
Original List Price: $589,000. List Price at Contract: $589,000.
List Date: 7/21/2017 Days on Market: 4
Settled Sales Price: $596,000.
Seller Subsidy: $0.
Settlement Date: 8/28/2017
Transaction type: Standard

Original GDoN post can be seen
: here.

The original listing can be seen here: here.

Located a short distance from the Potomac Ave Metro and Harris Teeter, this petite rowhome settled just under the $600,000. mark. (Remember when $600,000. seemed like a lot to pay for a house in DC? Not all that long ago, really…)

There have been a total of 31 fee simple sales in this immediate area since the beginning of 2017. Median net price for those 31 settled properties is $739,000. Currently, there are a total of four active listings of houses for sale in this area off of Pennsylvania Ave ranging from $829,900. to $1,299,000.

For Buyers in this price point that prefer not to purchase in common ownership communities (condos and co-ops), there are currently 61 choices offered for sale in the District of Columbia between $500,000. and $600,000. There are 79 active condos and co-ops in that price range.

The listing agent for this property was Judy Allen with Berkshire Hathaway HomeServices PenFed Realty. Peg Mancuso with Long and Foster Real Estate, Inc. represented the Buyer in the purchase of this property.

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