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LOCATIONS ALSO IN DUPONT, DOWNTOWN AND CAPITOL HILL

Contact James Downing of the Downing Real Estate Group, if you are selling, buying or have questions!

Office: 202-362-5800   Cell: 703.244.3971

Licensed in Washington DC, Virginia & Maryland.

Coldwell Banker Residential Brokerage - Chevy Chase
5028 Wisconsin Ave NW  Suite 100 * Washington DC 20016

There are some places in Washington DC that are unique.  Neighborhoods that have a huge appeal and retain their value.  That being said; while the market in Washington DC is doing well - it's hardly a "boom".

One neighborhood which I have had the privilege of working quite a bit in this year is Capitol Hill.  I have sold two properties there recently and have negotiated a couple of others - which didn't work out (yet).

About 10 days ago, one of these deals was a "newish" condo on the edge of Capitol Hill.  Well the neighborhood is not "really" Capitol Hill - but it's close!  Or at least that's what the listing agent wants us all to believe.  So when we based our offer on the recent comparable sales in the building (within the past 90 days) - all we got was a flat counter offer of "Full Price".  

Full WHAT?  Full price?  This isn't a unique condo. It's nice - but it's not the only one in town.  It's not really "in" Capitol Hill.  It's not "brand" new.  Not only that but - it's August!  You know - August; where real estate sales in DC tend to slow to a morbid crawl because 1/2 the dang city is on recess (thats vacation for those of who who don't work for Congress).

In fact; the Capitol Hill neighborhood has been one area where sellers *think* they can get 100% of list price - and some do.  The truth of the matter is that sellers get about 95% of list price (compared to about 92% in DC as a whole).

But a word of caution - when you get a good offer - TAKE IT.  Don't be silly and counter with a FULL PRICE offer.  It sends a huge message to the buyers.  The message sounds a lot like "screw you".

(Of course this condo is STILL on the market - and until they decide they want to "work" with a buyer - it will be on the market a very long time).

Contact James Downing of the Downing Real Estate Group, if you are selling, buying or have questions!

Office: 202-362-5800   Cell: 703.244.3971

Licensed in Washington DC, Virginia & Maryland.

Coldwell Banker Residential Brokerage - Chevy Chase
5028 Wisconsin Ave NW  Suite 100 * Washington DC 20016

Here are the Properties that sold in this Washington DC Neighborhood:  July, 2009
Type of Property      #BR/Baths        List Price           Closed Price     # Days on Market
      

Condo                         2/2                $549,900            $520,000               415*
Condo                         2/2                $545,000            $525,000               402*
Condo                         2/2                $555,000            $530,000               393*
RowHouse                   2/2                $689,000            $651,990               305
Condo                         2/2                $899,900            $837,500               200
Condo                         1/1                $260,000            $260,000               107
Condo                         1/1                $479,000            $475,000               131
Condo                         2/2                $379,000            $370,000                75
Condo                         1/1                $234,900            $227,500                121
Condo                         1/1                $349,900            $335,000                 92
Condo                         1/1                $399,999            $391,000                 65
Condo                         2/2                $389,900            $385,000                 83
Condo                         2/2                $789,900            $775,000                 38
Condo                        1/1.5              $415,000            $399,000                 93
RowHouse                   4/4.5              $1,599,000        $1,515,000             68
Condo                         1/1                  $414,900            $415,950              52
Condo                         0/1                  $199,000            $199,000              23
Condo                         1/1                  $429,000            $417,500              29
RowHouse                   4/2                  $845,555             $808,000             259
Condo                         1/1                  $369,900             $367,000              54
Condo                         1/1                  $314,900             $314,900              39
Condo                         2/2                  $509,000             $505,000              27
Condo                         0/1                  $259,900             $240,000              40
Condo                         1/1                  $475,000             $462,500              45
Condo                         2/2                  $309,500             $305,000              14
Condo                         1/1                  $359,900             $353,900                5
RowHouse                   2/2.5                $997,300            $930,000               29
Condo                         2/2                   $799,900            $733,000                5
Condo                         1/1                   $269,555            $270,000                62
RowHouse                   3/2.5             $1,100,000          $1,090,000               24
Condo                          2/2                   $319,900          $317,000                19
Condo                          0/1                   $162,500          $171,000                  1
Condo                          1/1                   $193,500          $195,000                  5
Condo                          1/1                   $326,900          $326,000                 38
Condo                          0/1                   $179,000          $168,000                 23
RowHouse                    2/2                   $693,000          $695,250                 10
Condo                          1/1                   $324,900          $325,000                  5
RowHouse                    2/2.5                $799,000          $819,000                  7
Condo                          2/1                   $325,000          $336,052                  5
Condo                          1/1                   $285,000          $285,000                  0
 
AVERAGE                                                                    $494,935                   90

Contact James Downing of the Downing Real Estate Group, if you are selling, buying or have questions!

Office: 202-362-5800   Cell: 703.244.3971

Licensed in Washington DC, Virginia & Maryland.

Coldwell Banker Residential Brokerage - Chevy Chase
5028 Wisconsin Ave NW  Suite 100 * Washington DC 20016

Here are the Properties that sold in this Washington DC Neighborhood:  July 2009

Type           #Bedrooms/Baths          List Price         Sold Price        Days on Market

Condo                 2/2                       $739,000          $705,000                234

Co-op                 0/1                        $189,000        $177,000                245

Co-op                 0/1                        $179,000        $174,000                110

Co-op                 1/1                       $289,000          $285,000                 108

RowHouse          5/4                     $1,195,000        $1,850,000              332

Condo                 2/2                       $750,000         $730,000                   82

RowHouse          2/2                       $675,000        $679,000                   76

Condo                 1/1                       $385,000         $380,000                   95

Condo                 2/2                       $499,000         $480,000                   89

Condo                 1/1                       $399,900         $385,000                   53

Condo   4/4    $1,100,000         $1,050,000      53

RowHouse          3/2.5                     $689,900          $595,000                  55

Condo                 2/2                       $649,000          $630,000                  38

Condo                 2/1.5                    $429,000          $420,000                  31

Condo                 1/1                       $424,900          $420,000                  17

Condo                 1/1                       $349,000          $342,000                  29

RowHouse           8/4                     $1,375,000        $1,300,000                11

RowHouse           4/3.5                  $1,138,000        $1,100,000                 6

RowHouse           3/3.5                  $1,199,000        $1,095,000                 96

Condo                  1/1                      $274,000           $279,000                 12

Co-Op                  0/1                      $225,000           $215,000                  11

Condo                  0/1                      $259,900           $249,000                  13

Condo                  1/1.5                   $499,000           $495,000                   9

Condo                  2/2                    $1,500,000         $1,500,000                 0*

Condo                  1/1                      $369,900            $365,000                 6

Condo                  2/3                    $1,778,500          $1,778,500                14*

Condo                  2/2                       $475,000            $472,500                 6

Condo                  1/1                      $380,000            $365,000                  4

Condo                  1/1                      $399,900            $454,000                  3

Condo                  1/1                      $274,900            $315,000                  5

*This area includes parts of NW DC, Between K and U Street/Florida Ave and 16th to 23rd Street.

** Unit part of new building with multiple units for sale.  Days on Market may not be accurate.

What's Selling - Washington DC - Dupont Circle Neighborhood

Here are the Properties that sold in this Washington DC Neighborhood:  Janurary 2009

Type           #Bedrooms/Baths          List Price         Sold Price        Days on Market

Co-Op                 0/1                       $184,500        $176,250              151

Condo                 1/1                       $264,900        $264,950              130

Condo                 2/1                       $500,000        $460,000              110

Condo                 2/1                       $475,000        $455,900              185

Condo                 0/1                       $239,000        $233,000               25

Condo                 0/1                       $274,500        $260,500             106

Condo                 2/2                       $439,900        $434,500               30

Condo                 2/2                       $614,900        $575,000               76

Condo                 1/1                       $349,900        $349,000               54

Condo                 3/2                       $849,900        $829,500             103

*This area includes parts of NW DC, Between K and U Street/Florida Ave and 16th to 23rd Street.

** Unit part of new building with multiple units for sale.  Days on Market may not be accurate.

Call James for all your Real Estate needs and questions; servicing Logan Circle, Mt Vernon Square and the Greater Washington DC area.

Coldwell Banker Residential Brokerage - Chevy Chase
5028 Wisconsin Ave NW  Suite 100
Washington DC 20016
202-351-5800 Main Office
Licensed in DC,MD,VA

Here are the Properties that sold in this Washington DC Neighborhood:  January 2009

Type of Property      #BR/Baths                 List Price           Closed Price     # Days on Market

Condo                       2/2                        $525,000            $525,000                 111*

Condo                       2/2                        $699,000            $632,500                 247*      

Row House                4/2.5                      $365,900            $382,900                 98           

Row House                3/1                        $649,000            $600,000                  75

Condo                       1/1.5                     $419,000            $390,000                  76

Condo                       2/2                        $615,000            $580,000                 262

Condo                       1/1                        $195,000            $195,000                  23

Condo                       1/1                        $419,900            $415,000                  93

Condo                       2/2                        $574,900            $550,000                  28

Condo                       0/1                        $199,900            $202,000                  47

Row House                5/4                        $688,800            $632,500                 278

Co-op                        0/1                       $185,000            $176,500                   35  

Condo                       1/1                        $355,000            $342,000                   20

Condo                       2/2                        $399,900            $420,000                   16

Condo                       1/1                        $299,750            $282,500                   13

Condo                       2/2                        $306,900            $316,000                  118

Condo                       2/3                       $1,694,926         $1,694,926                  0*

         

   

       *Units were part of multi-unit, newly-built complexes; DOM may not be accurate


             

This area boarders U Street & Florida Ave to the North; 16th Street to the West; H street to the South and 4th Street to the East.

View Larger Map

Call James for all your Real Estate needs and questions; servicing Virginia, Maryland and the GreaterWashington DC area.

Coldwell Banker Residential Brokerage - Chevy Chase
5028 Wisconsin Ave NW  Suite 100
Washington DC 20016
202-351-5800 Main Office
Licensed in DC,MD,VA

Current Number of Homes Active and Under Contract in the Washington DC area:

Here is the breakdown as of January 12th, 2009

While Inventories have dropped over the past several weeks; they remain higher than the same time last year.

One of the most surprising numbers I see; is the extremely low number of DC Properties Under Contract; especially in the condo market (30% Lower than Last Year).  Perhaps this is a sign of the economy; or perhaps everyone is busy with the Inauguration Events.

Here are the number of homes on the market including the number of homes that were taken Off (EXPIRED) the market last week. 

Washington DC

Single Family:     Actives: 1998            Expired: 25          Under Contract: 347

Condos:              Actives: 1387           Expired: 19          Under Contract: 219

Arlington County

Single Family:     Actives: 488              Expired: 5            Under Contract: 76

Condos:              Actives: 508              Expired: 2            Under Contract: 92

Prince Georges County

Single Family:     Actives: 6397            Expired: 91           Under Contract: 866

Condos:              Actives:  799            Expired: 15             Under Contract: 63

Montgomery County

Single Family:     Actives: 3994           Expired: 47           Under Contract: 849

Condos:              Actives: 1264           Expired: 14           Under Contract: 239

It is important to see the number of homes taken "Off" the market.  While many of these homes will return to the marketplace a week or two; seeing a listing "expire" means that the seller and agent thought or expected the home to be sold by now.

Call James for all your Real Estate needs and questions; servicing Virginia, Maryland and the GreaterWashington DC area.

Coldwell Banker Residential Brokerage - Chevy Chase
5028 Wisconsin Ave NW  Suite 100
Washington DC 20016
202-351-5800 Main Office
Licensed in DC,MD,VA

What's Selling - Washington DC - Dupont Circle Neighborhood

Here are the Properties that sold in this Washington DC Neighborhood:  1/1 - 1/10

Type           #Bedrooms/Baths          List Price         Sold Price        Days on Market

Condo                 1/1                       $265,900        $264,900               130

Condo               Studio/1                  $239,000        $233,000                25

Condo                   1/1                     $349,900        $349,000                54

*This area includes parts of NW DC, Between K and U Street/Florida Ave and 16th to 23rd Street.

** Unit part of new building with multiple units for sale.  Days on Market may not be accurate.

The area does have 15 Listings Under Contract and 87 Listings For Sale.

Call James for all your Real Estate needs and questions; servicing Virginia, Maryland and the Greater Washington DC area.

Coldwell Banker Residential Brokerage - Chevy Chase
5028 Wisconsin Ave NW  Suite 100
Washington DC 20016
202-351-5800 Main Office
Licensed in DC,MD,VA