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“Median price for a house in this neighborhood is $546,500. They go quick, though.”

by Prince Of Petworth October 20, 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: 2438 2nd St NE
Legal Subdivision: Brookland
Advertised Subdivision per Listing: Brookland
Bedrooms: 3 Baths: 2.5 Parking: Street Ownership: Fee Simple
Original List Price: $549,000. List Price at Contract: $535,000.
List Date: 9/7/2017 Days on Market: 11
Settled Sales Price: $545,000.
Seller Subsidy: $3000.
Settlement Date: 10/18/2017
Transaction type: Standard

Original GDoN post can be seen: here.

The original listing can be seen here: here.

Although only on the market for eleven days, the listing underwent a price reduction from the original $549,000. to $535,000. This quick improvement had its desired effect of catching the attention of presumably more than one interested buyer, sending the settled price relatively close to the original ask (at net $542,000.)

So far into 2017, there have been a total of 23 sales of fee simple houses in the Edgewood neighborhood, which overlaps the legal subdivision of Brookland in NE DC. The neighborhood is within blocks of higher priced Bloomingdale, as well as Red line Metro.

Median price for a house in this neighborhood is $546,500. They go quick, though. Since the beginning of the year, median days on market is one week. You can see the three current active house listings and fee simple sales activity in the area so far in 2017 here.

The listing agent for this transaction was Brett West with McEnearney Associates, Inc. Robyn Porter with W.C. & A.N. Miller, Realtors, A Long and Foster Company, represented the Purchaser.

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