Real Estate

1623 Monroe St NW

Featured Properties: 1623 Monroe St NW and 1612 Newton St NW

Original List Price: $499,000. and $529,000.

List Price at Contract: $499,000. and $499,000.

List Date: 10/09/2009 and 8/26/2009

Days on Market: 4 and 51

Settled Sales Price: $495,000. and $476,000.

Settlement Date: 11/30/2009 and 10/30/2009

Seller Subsidy: $0. in both cases

Bank Owned?: No and No

Type Of Financing: Conventional conforming ($417k or less financed) in both cases

Original GDoN Post is: here for 1623 Monroe St NW and here for 1612 Newton St NW.

Recent Listings are: here.

I know, I did Mount Pleasant last week for Good Deal or Not Revisited (GDoN-R), but there were some issues with the formatting for the ten years of data I compiled, so I thought I’d try again. These two houses were one block from each other, and both on the smallish side, neither with central air, and both ultimately priced the same. Comments on both original GDoN posts complained about the size of both properties and debated the desirability of the location.

What I tried to post last week was a ten year overview of sales data for houses (did not include condos) in Mount Pleasant. The data is not surprising but I think it shows an interesting overall perspective. We see a peak in average sales price in 2005, and as recently as 2007, the average sale was above list price. In 2008, Buyers had a little bit more negotiating room as the average property sold approximately 7% below list price. 2009 Buyers didn’t get to negotiate as much, but it looks like Sellers became somewhat more accommodating in their pricing, since the average sale price was down more than $20,000. Click here to see the report.

This home is located at 1807 Ingelside Terrace, NW:

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The flier says:

“EXQUISITE TUDOR, BACKING UP TO RCK CRK PK, MOVE-IN COND, NU WNDWS, NU KIT, NU MARBLE HALL BA (2ND FLR), REFIN FLRS, STEP-DOWN LIV RM W/ FRPLC, ORIG WROUGHT-IRON RAIL BET LR & STEP-UP DR. MBR/BA UP + 2 OTHER BRS. FINISHED LOWER LVL W/ FRPLC & 3RD BA, , 1 CAR BLT-IN GAR. YOU WILL LOVE THE WARMTH AND FEEL OF THIS HOME.”

You can find more info here and a virtual tour here.

Ingelside Terrace is one of my favorite streets in Mt. Pleasant so I was excited to see one of these tudors for sale. What do you think of the virtual tour? I was pretty blown away. Does $699,000 sound reasonable?

In real life, hipchickindc is licensed as a real estate broker in the District of Columbia, and as a real estate salesperson in Maryland. 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. Information is deemed reliable but not guaranteed.

Featured Property: 1838 Monroe St NW

Original List Price: $599,000.

List Price at Contract: $599,000.

List Date: 11/13/2009

Days on Market: 6

Settled Sales Price: $659,000.

Settlement Date: 12/22/2009

Seller Subsidy: $0.

Bank Owned?: No

Type Of Financing: Conventional with a $326,310. down payment

Original GDoN Post is: here.

Recent Listing is: here.

Good Deal or Not (GDoN) commenters were quite optimistic about this property. There was some discussion regarding, um, some safety matters on the block, but one anonymous reader went as far as to say, “I think the Hipchick follow up on this one will show it goes for 25k over asking.” It actually ended up selling a hefty $60,000. above the list price.

Entering a new decade has prompted me to review real estate numbers over the past ten years for specific neighborhoods. I’m seeing some interesting contrasts. Not all neighborhoods in DC have responded the same to the erratic changes in the marketplace. If this information is of interest, I will include it in future posts for other neighborhoods. See below for a picture of the real estate activity in Mount Pleasant. Note that this set of data focuses on single family houses, and excludes condos. Data after the jump. (more…)