More than 20% of commuters in Mount Pleasant, Bloomingdale, and Petworth get to work each day primarily using a bicycle. That doesn't even include people who use bikes to reach Metro. See the map below for a glimpse of how each neighborhood stacked up.
As the Spring season approaches, and buyers and sellers begin to enter the market, let's see how far $350,000 goes using the DC Open Doors Program.
This one-bedroom, one-bathroom 765 sq ft Glover Park condo sold for $340,000 in just 16 days earlier this month. Condos fees are $380/month and the home was nicely renovated in 2012. It's a pet friendly building too :)
This 800 sq. ft. two bedroom, two bathroom condo in the popular NE neighborhood of Trinidad sold in just two days at list price for $344,000. Located a few blocks from the nearest H Street trolley stop (scheduled to begin operating on Feb 26, 2016), Trinidad will instantly become accessible to Union Station (Red Line Metro).
I assisted this first-time homebuyer purchase this charming three bedroom, one bathroom Ivy City rowhouse for $360,000. Located just a few blocks from the Nike Store, MOM's Organic, and Union Market, Ivy City is a neighborhood inspired by the arts.
As the Spring season approaches, and buyers and sellers begin to enter the market, let's take a look at what you can get for $900,000 in the DC area.
This 4-bedroom, 3-bathroom Colonial in Northwest, DC's Crestwood neighborhood sold for $869,000 in eight days.
This Mt. Pleasant rowhouse with 3-bedrooms, 2.5-bathrooms sold for $949,555 in just seven days.
This two-unit 4-bedroom, 4.5-bathroom semi-detached home in Northeast DC's Eckington neighborhood sold for $950,000 in 23 days. Eckington is famous for its role in the opening credits of House of Cards.
After listing a home in Logan Circle, I thought I'd take a closer look at the Northwest neighborhood's real estate market over the years. If you're considering purchasing a new home in Logan, you'll be entering a strong Seller's market, so be sure to work with a knowledgeable agent to save you time, money and stress. If you aren't sure whether now is the time to sell your home, chances are your property has increased in value, which could position you well in the current market.
This chart breaks down the median sale price of homes by the number of bedrooms. One bedroom in 2011 went for $320k, but now you can expect to pay closer to $435k. You'll see a similar pattern with two bedroom units, where the median was $589k five years ago and today it's $685k. Three bedrooms units have shown a bit more volatility over the years, but that's largely explained by the limited amount of homes (thus limited sample size) that have sold over the years.
This chart shows us that sellers are getting close to what they are asking for, and many buyers are paying above asking price. As a buyer, there are few "steals" to be found in Logan Circle, but be sure to work with an agent who can make sure you don't overpay for a home. As a Seller, the Three Principles of Home Selling still apply...Price the home competitively, make the home easily Accessible to potential buyers, and hire an agent with a proven record of effectively Marketing your home.
As the old saying goes, "Never tell someone something when you can show them." Well, this chart further supports the strength of the Logan Circle market. Homes are not only selling close to (and above) asking price, but they are also selling in less than two weeks (and oftentimes less than a week). Buyers, do not find the home of your dreams and then hire an agent to write an offer. Instead, work with an agent early in house hunting process, as you'll be better prepared to make an offer on that perfect pad.
Offered at $900,000, this 2 bedroom, 2.5 bath CONDO with GARAGE PARKING makes up the top two levels of a charming Victorian rowhouse! It truly lives like a house! Open layout, washer/dryer, private deck, 11' ceilings, granite and stainless kitchen, hardwood floors throughout, beautiful bay window, skylights, recessed lighting, gas fireplace, ceiling speakers, powder room on the main level, two master suites, huge walk-in closet, jacuzzi tub, central air, and low condo fees. Pets OK. Walk to Metro, Whole Foods, shops, restaurants and cafes.
