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: 1839 Corcoran Street, NW
Legal Subdivision: Dupont Circle
Advertised Subdivision per Listing: Old City #2
Bedrooms: 1 Baths: 1 Parking: Street Ownership: Condo Square Footage per tax record: 744
Original List Price: $469,000. List Price at Contract: $469,000.
List Date: 6/29/2018 Days on Market: 3
Settled Sales Price: $469,000.
Seller Subsidy: $0.
Settled price per square foot: $630.
Settlement Date: 7/31/2018
Transaction type: Standard
Original GDoN post can be seen: here.
The original listing can be seen here: here.
This one bedroom lower level condo in Dupont sold at list price in three quick days.
According to the Compass Markets app, the 2018 Q2 median price per square foot in the Dupont Circle neighborhood is $630., so we can consider the subject condo pretty typical of sales in the area.
For some perspective on price per square foot, we revisited this small condo in Capitol Hill a couple weeks ago, also a lower level unit, that settled at $614. per square foot.
Year to date, there have been 64 1 bedroom condos sold within 1/3rd of a mile of the subject. Prices for those have ranged from $275,000. for a 523 square foot junior one bedroom ($526. per square foot) to $584,000. for a 825 square foot unit in a fancy historic building ($708. per square foot).
As for selling AT list price, this condo is still not an anomaly. One bedroom condos in this neighborhood generally sell at list price (median list to sales price ratio is 100% since the beginning of 2018). Prices may be high, and these move really fast, but buyers with strong financing in place shouldn’t be overly intimidated about competing in this market area.
The listing agent for this transaction was Lindsay Reishman with Compass (per disclosure above, the same brokerage that the writer is affiliated with). Lisa Dubois-Headley, with Re/Max By Invitation represented the Purchaser.