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: 2871 Audubon Terrace, NW
Legal Subdivision: Forest Hills
Advertised Subdivision per Listing: Forest Hills
Bedrooms: 5 Baths: 4.5 Parking: Garage, Driveway Ownership: Fee Simple
Lot Square Footage per Listing: 21,440 square feet (~1/2 acre)
House Square Footage per Listing: 4650
Original List Price: $2,895,000. List Price at Contract: $2,895,000.
List Date: 10/27/2017 Days on Market: 12
Settled Sales Price: $2,800,000.
Seller Subsidy: $0.
Settlement Date: 1/5/2018
Transaction type: Standard
Original GDoN post can be seen: here.
The original listing can be seen here: here.
As much as the DC real estate market is driven by desire for central urban locations close to restaurants, yoga studios, and Metro, there is something to be said for being surrounded by views of the Park and a private half acre forest of land, not to mention having your own Japanese-inspired foot bridge. And all this within a fourteen minute walk to civilization and the Van Ness/UDC Metro station.
Following a 2009 addition designed by architect Travis Price, and apparently other significant updates, the market value of the home increased a bit since its 2006 sale at $1.6 Million. Check out the link for the “Before” pics (heavy curtains and wallpaper).
This one went under contract in less than two weeks. That’s quick, however, consider that the 52 fee simple houses that sold between $2.5 and $3 Million in DC in 2017 sold at a median of 24 days on market. The prior year, in 2016, there were 42 settled house sales in this price point and marketing time was more than double at a median of 52 days on market. Although this represents a small percentage of the DC real estate market, it is notable that activity at the higher end of the market is robust.
The listing agent for this transaction was Kathryn Schwartz with Wydler Brothers, LLC. Nancy Taylor Bubes, with Washington Fine Properties represented the Purchaser.