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“an individual case study of the rapid shift in affordability in the District”

by Prince Of Petworth September 29, 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: 1508 E Street, SE
Legal Subdivision: Old City #1
Advertised Subdivision per Listing: Old City #1
Bedrooms: 2 Baths: 2.5 Parking: Street Ownership: Fee Simple
Original List Price: $775,000. List Price at Contract: $775,000.
List Date: 7/21/2017 Days on Market: 4
Settled Sales Price: $820,000.
Seller Subsidy: $0.
Settlement Date: 9/22/2017
Transaction type: Standard

Original GDoN post can be seen: here.

The original listing can be seen here: here.

Every once in a while, a house’s re-visit turns up a history of a number of sales within a span of time. These can be useful to look at as an individual case study of the rapid shift in affordability in the District.

You can also see the history of technology within the multiple listing system, which has been around in its current form since the mid-1990’s. For example, earlier listings will have pics taken by the MRIS photographer of the front exterior days after a property hit the market. Agents didn’t have digital cameras, let alone smart phones, back then. The 2007 listing is the first one with more than a single image. Check out the difference in the photos from 2007 compared to 2011. Then go look at the pics for the current listing.

Available sales history for the subject property:

1998 November: Listed for $140,000. Sold for $140,000. $0. Subsidy 3 Days on Market

2001 March: Listed for $249,000. Sold for $249,000. $0. Subsidy 14 Days on Market

2003 April: Listed for $379,000. Sold for $384,000. $0. Subsidy 9 Days on Market

2007 February: Listed for $549,000. Sold for $549,000. $0. Subsidy 5 Days on Market

2011 April: Listed for $615,000. Sold for $600,000. $0. Subsidy 17 Days on Market

The listing agent for this transaction was Rebecca Brown Nelson with Keller Williams Realty. Meredith Margolis with Compass (per disclosure above, a member of the same brokerage as the writer) represented the Purchaser.

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