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“Trump effect? The end of D.C. real estate as we know it? Not exactly.”

by Prince Of Petworth March 2, 2018 at 2:45 pm 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 Metropolitan Regional Information Systems (MRIS), which is the local multiple listing system and/or Smartcharts by Showingtime. Information is deemed reliable but not guaranteed.

Featured Property: 2430 Wyoming Ave NW
Legal Subdivision: Kalorama
Advertised Subdivision per Listing: Kalorama
Bedrooms: 6 Baths: 7.5 Basement: Fully Finished Parking: Detached Front Loading Garage Ownership: Fee Simple
House Living Square Footage per Listing: 6770 square feet
Original List Price: $9,975,000. List Price at Contract: $9,975,000.
List Date: 9/26/2017 Days on Market: 141
Settled Sales Price: $9,000,000.
Seller Subsidy: $0.
Settlement Date: 2/28/2018
Transaction type: Standard

Original GDoN post can be seen: here.

The original listing can be seen here: here.

In 2017, there were a total of 18 residential properties that changed hands and settled for over five million dollars. All properties sold over $5M in DC last year were located in the Northwest quadrant. Two of these sales were of condo units (one at $6.5M and the other at $8.4M).

Trump effect? The end of DC real estate as we know it? Not exactly.

Those eighteen sales last year represented .194% of the total units (all fee simple, condo, and co-op ownership properties) sold in the District of Columbia in 2017. Admittedly, this is a slight increase from 2016 during which the over $5M market represented .164% of total sales, however, in 2015 the high, high end sales hit .194% and in 2014 they were at .226%. Even going back to 2010, the ratio of these sales in relation to the total market was .136%. In any case, the teeny tiny portion of the real estate market in DC at this level has been relatively consistent for years.

The listing agents for this transaction were Patrick Chauvin and Brad House with Compass (per disclosure above, the same brokerage company that the writer is affiliated with). Mark McFadden with Washington Fine Properties, LLC represented the Purchaser.

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