“Despite being a basement level unit, this junior one bedroom condo moved fast”

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: 311 4th St SE #1
Legal Subdivision: Capitol Hill
Advertised Subdivision per Listing: Capitol Hill
Bedrooms: 1 Baths: 1 Parking: Street Ownership: Condo
Living area square footage per tax record and listing: 491
Original List Price: $299,900. List Price at Contract: $299,900.
List Date: 6/15/2018 Days on Market: 5
Settled Sales Price: $302,000.
Seller Subsidy: $500.
Settled price per square foot: $614.
Settlement Date: 7/17/2018
Transaction type: Standard

Original GDoN post can be seen: here.

The original listing can be seen here: here.

Despite being a basement level unit, this junior one bedroom condo moved fast and settled a tad above asking. Located on The Hill, between two Metros, in a 7 unit boutique building, it perfectly fit the market for a first time buyer or as a pied a terre.

Including the subject property, there have been a total of 12 settled sales since the beginning of 2018, in the legal subdivision of Capitol Hill, 0-1 bedrooms, under 500 square feet.

Price per square foot tends to range higher for smaller units. This one sold at net $614. per square foot. Other recently sold similar units hit up to $700. per square foot. The lowest of these sales were still in the upper $500.s per square foot.

These small, well located units are desirable. Market time in 2018 is an average of 7 days before going under contract. Average list to sales price ratio is 101%.

The listing agent for this transaction was Lucy Fraser with Redfin Corporation. Kara Richetti, with Keller Williams Realty, represented the Purchaser.