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“At $1.4M, it was ahead of the market.” Still, This Brookland House Sold For $1,065,000

by Prince Of Petworth April 6, 2018 at 10:45 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 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: 1504 Newton St NE
Legal Subdivision: Brookland
Advertised Subdivision per Listing: Brookland
Bedrooms: 4 Baths: 3.5 Parking: Driveway/Off Street Ownership: Fee Simple
Living Square Footage per Listing: 3300 square feet Lot Sq Ft: 6350
Original List Price: $1,399,000. List Price at Contract: $1,149,000.
List Date: 9/15/2017 Days on Market: 184
Settled Sales Price: $1,065,000.
Seller Subsidy: $0.
Settlement Date: 3/30/2018
Transaction type: Standard

Original GDoN post can be seen: here.

The original listing can be seen here: here.

Commenters to the original GDoN post called this one. At $1.4M, it was ahead of the market. The property ultimately settled for 76% of the original list price.

Including this transaction, there have been a total of eight properties sold over $1M in Brookland. One even exceeded the $1.4M price point (Listing agents for that 2016 sale were Shemaya Klar and Jake Abbott with Berkshire Hathaway HomeServices PenFed Realty, and Robert Sanders with TTR Sotheby’s International Realty brought the buyer).

Reality check:

Average price for a detached single family house in the legal subdivision of Brookland based on all of 2017 is $686,081. In 2016, it was $666,064. Inventory is super, super low, and demand super high, so we may see that number push up this Spring.

For the commenters on the original thread that pondered the seven figure market East of the River, this is what you can get for $1.1M East of the River .

The listing agents for this transaction were John Mahshie and Ron Mangas Jr. with TTR Sotheby’s International Realty represented the Seller. Leyla Phelan, with Coldwell Banker Residential Brokerage, represented the Purchaser.

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