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 Bright MLS, which is the local multiple listing system and/or Smartcharts by Showingtime. Information is deemed reliable but not guaranteed.
Featured Property: 1523 Newton Street, NE
Legal Subdivision: Brookland
Advertised Subdivision per Listing: Brookland
Bedrooms: 4 Baths: 4.5 Parking: Street Ownership: Fee Simple
Original List Price: $985,000. List Price at Contract: $985,000.
List Date: 4/24/2018 Days on Market: 7
Settled Sales Price: $1,010,000.
Seller Subsidy: $0.
Settlement Date: 5/31/2018
Transaction type: Standard
Original GDoN post can be seen: here.
The original listing can be seen here: here.
At this half way point in 2018, there have been a total of three seven figure sales (and one at $999,900.) in Brookland so far this year. One was across the street from the subject property, on the same block, and the other one block over on the 1400 block of Otis. There are also currently two pending sales nearby that are listed over $1,000,000.
Brookland saw their first million plus sale in 2015. There were another three $1M+ sales in the area in 2016, and just two in 2017.
Multiple sales like this open the gateway for other $1M+ sales, since they provide solid comps for appraisal. All of these big sales in Brookland have been for detached houses, with four or more bedrooms.
That said, of the 25 sales of detached homes in 2018 in the legal (tax record) subdivision of Brookland, the majority settled under $850,000., and went for as low as $420,000.
The listing agents for this transaction were Jake Abbott and Shemaya Klar with Berkshire Hathaway HomeServices PenFed Realty. Judy Cranford with Cranford and Associates, represented the Purchaser.