“the Edgewood neighborhood in near NE DC is often overlooked by buyers”

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: 221 Douglas Street, NE
Legal Subdivision: Brookland
Advertised Subdivision per Listing: Brookland
Bedrooms: 3 Baths: 2.5 Parking: Faces rear, Paved Driveway Ownership: Fee Simple
Original List Price: $639,000. List Price at Contract: $639,000.
List Date: 3/22/2018 Days on Market: 5
Settled Sales Price: $670,000.
Seller Subsidy: $0.
Settlement Date: 4/20/2018
Transaction type: Standard

Original GDoN post can be seen: here.

The original listing can be seen here: here.

East of Bloomingdale, north of Eckington, and at the west edge of Brookland, the Edgewood neighborhood in near NE DC is often overlooked by buyers whose searches are heavily concentrated just a few blocks west. Separated geographically from Bloomingdale by Glenwood Cemetery and North Capitol Street, houses and condos in Edgewood are relatively close to two red line Metro stations, and contiguous commercial development.

Since 1 January 2018, there have been a total of 23 houses and condos sold in Edgewood, in contrast to the 30 total units sold last year during the same time period.

There was a tad more inventory available last year, and the median net price 1/1/17 to 4/26/2017 for all sales in Edgewood was $435,300. During this timeframe in 2017, there were 6 sales over $700,000.

This year, same timeframe, same place, median net price is up to $711,000. (This year, so far, there have been 13 sales closed over $700,000.) That’s a crazy 63% year over year increase in median net price, just a little past the first quarter.

There are currently 9 active listings in Edgewood ranging from a $244,900. 1 bedroom condo to an $849,900 house.

The listing agent for this transaction was Olivia Merlino with Coldwell Banker Residential Brokerage. Michael Alderfer with Redfin Corporation, represented the Purchaser.