Thanks as always to DC realtor Kevin Wood for compiling this list of home/condo sales for PoPville. Click below on “June 2014 Sales” for the full list of sales in PDF and excel formats.
Real Estate
From an email:
“Redfin released an analysis today about flipped houses in major markets and found that DC had several of the hottest neighborhoods for home flipping in the country last year. Petworth ranked #1 in the country with average gain of $312,400 per flip. Brookland/Catholic University ranked 3rd with an average gain of $271,900 per flip. Fort Totten and Stadium Armory ranked #6 and #7 respectively. This gain is the difference in value between purchase price and sale price for homes bought and sold within a year; it does not factor in remodeling or other costs.
In our metro, the average gain for a flipped home was $104,100 in 2013. Last year 4,260 homes were flipped in the DC metro – according to our analysis of MLS data – with a median flip time of 172 days. And 73.2 percent of these homes were flipped for a gain. The analysis shows that our market continues to see high levels of flipping activity this year.”
Thanks as always to DC realtor Kevin Wood for compiling this list of home/condo sales for PoPville. Click below on “May 2014 Sales” for the full list of sales in PDF and excel formats.
I just happened to see this in the real estate section, it’s a year old but still active. The listing says:
“RENOWNED ARCHITECT TRAVIS PRICE, DESIGNED THIS INCREDIBLE CONTEMPORARY HOME TO BE BUILT IN THE HEART OF MASS AVE HEIGHTS FOR CURRENT OWNER. THIS EXTENSIVE SET OF PLANS PLUS BUILDERS BIDS ARE AVAILABLE TO THE FUTURE OWNER. $10 MILLION IS THE BUDGET FOR THE LAND + CONSTRUCTION, BUT BUYER CAN ACQUIRE LOT FOR $3.5 MILLION (INCLUDING PLANS) AND CHOOSE ARCHITECT/ BLDR OF CHOICE.”
The lot is located at 2602 29th Street, NW. The potential 7 bed/6.5 bath is yours for $10 million. Think anyone will go for it?
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Photo by PoPville flickr user Nikoo’s Photos
From MRIS:
“How We Determined the Hottest Neighborhoods:
To find the hottest neighborhoods, we looked at the median days on market for homes sold from January 2014 through April 2014. Then, we compared that number with last year’s days on market for each neighborhood. All of the subdivisions that made the cut had a median days on market of ten days or less.
2014’s 10 Hottest Neighborhoods in DC
#1 Takoma Park, Washington, DC
Takoma Park, DC is the very definition of affordable homes that are close enough inside the District to make a commute easier than one from the suburbs. This neighborhood has one of the shortest selling times—with a median days on market of just seven days (this has come down from last year when homes were selling in a median of 12 days). The median selling price is $380,000 so homes here are attractive to plenty of first time buyers. It also helps that the neighborhood has a sizable stock of row houses and single-family homes so those who want to get out of living in a condo can transition to this neighborhood without having to jump up significantly in price.
#2 Wakefield, Washington, DC
The very northern tip of the Cleveland Park is also one of DC’s fastest moving neighborhoods and with frequent bus lines, a few metro stations, and abundant retail and restaurants it is easy to see why. Officially called Wakefield, it is the triangle north of Yuma Street between Nebraska and Connecticut Avenues where homes are selling in a median of seven days. We could even say that this is one of DC’s most popular neighborhoods since sales prices have jumped up a full fifty percent in the past year. For 2013 they sold at a median of $356,000 but so far in 2014 the median sales price has been $532,500.
#3 Rhode Island Avenue NE, Washington, DC
Rhode Island Avenue is in the middle of such rapid growth it makes sense that homes there are selling in half as much time as last year. With the major development of Rhode Island Row that turned the barren stretch of land near the metro station into a walkable community it is a hot place to be. Homes there are selling in a median of just eight days, down from twenty days in 2013.
#4 Chevy Chase, Washington, DC
Chevy Chase, the portion that is in DC, is a mecca for people who want a balance between the suburbs and the city. With convenient access to plenty of retail, but with enough trees and wider streets, it meets the needs of many homebuyers for this area. Homes there are selling in a median of eight days with a median sales price of $930,000. Competition for houses is tough, with only thirty-eight active listings on the market as of the end of April (but it is slightly better than last year when there were only twenty-five active listings in the same time frame).
#5 Mount Pleasant, Washington, DC
Mt. Pleasant is the next spot on the list, with a median DOM of nine days. This has always been a popular place to live with its proximity to all that 18th Street has to offer and access to several of the city’s main driving arteries, but the housing stock is mostly row houses or higher-end condos so the prices are noticeably higher. So far in 2104 the median sales price is $620,000, which is thirty percent higher than 2013 when homes sold for a median price of $474,900. (more…)
Well it’s Friday and there ain’t a whole lot happening so check out this other awesome house a reader sent in – 6011 Kirby Road in Bethesda. The listing says:
“STUNNING, AWARD-WINNING CONTEMPORARY DESIGNED BY INTERNATIONALLY ACCLAIMED ARCHITECT, DAVID JAMESON (FORMERLY HIS PERSONAL RESIDENCE), FEATURES CALIFORNIA-STYLE INDOOR/OUTDOOR LIVING. INTERIOR COURTYARD AND LARGE WINDOWS PROVIDE LIGHT THROUGHOUT. HIGH CEILINGS, DRAMATIC SPACES, FIRST FLOOR MASTER SUITE, OPEN LIVING AREA. PRIVATE LOT WITH POOL & SPA. MINUTES TO DOWNTOWN BETHESDA.”
You can see more photos here.
This 4 bed/3.5 bath is going for $2,195,000.
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This house is located at 1726 Capitol Street, Northwest. The listing says:
“Currently zoned R4 with a popular carryout business on the first level. This beautiful Victorian townhouse is a great opportunity for an investor. Convert to condos, penthouse with a green roof, have your own storefront and live on top, the possibilities are there!!! For this low price it won’t last! Carryout business would consider lease option or vacate. Home needs TLC. Cash preferred. Property Sold as-is.”
Sadly no photos of the interior but this a pretty unique option with Jam Doung in the mix.
It’s going for $550,000.
Thanks to DC realtor Kevin Wood for compiling this list of home/condo sales for PoPville. Click below on “April 2014 Sales” for the full list of sales in PDF and excel formats.
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Some bonus house porn this week – the listing for 541 7th St, SE says:
“The most captivating home to emerge on the Hill this season. Developed by Ditto Residential in collaboration w/ acclaimed interior designer Darryl Carter. 5brs/5 full baths/2 half baths spread across 4 finished levels & nearly 5,000 sq.ft. An unparalleled commitment to quality & style. Carefully restored original details, seductive appointments, & highest quality finishes. Visit 541seventh site.”
You can see lots more photos here.
This 5 bed/5 full bath/2 half bath is going for $2,495,000.
Thanks to a reader for sending the email announcement:
“Dear Evolve Clients:
I wanted to take this time to introduce myself. My name is Eric Kretschman and I am the president of Wexford Property Management. We are a management company overseeing about 1,500 residential units throughout New York City, Philadelphia and Washington D.C., with our largest operations being in Washington, DC. We have owned properties and managed in the District since 2001.
I am writing to you today to announce that we have just recently acquired Evolve Property Management from Jeff Printz and Chris Swanson. I know this news may be of interest to you as your established relationship has been with the Evolve staff, and with Chris and Jeff in particular. And I wanted to share some thoughts with you below so that you understand a little more about the sale and what operations will look like going forward: (more…)