Reply to Are these H St. NE / Capitol Hill houses priced appropriately?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]A few nice 3bds under $1m for my H ST/Cap Hill NE folks.  Anyone see these?  Will these all escalate?

3BR/2.5BA, 1614sf, $950,000:
https://www.redfin.com/DC/Washington/504-D-St-NE-20002/home/9896989

3BR/2BA, 1740sf, $960,000:
https://www.redfin.com/DC/Washington/704-12th-St-NE-20002/home/9907994

3BR/2.5BA, 1512sf, $925,000:
https://www.redfin.com/DC/Washington/722-4th-St-NE-20002/home/9892570

3BR/2.5BA, 1278sf, $968,500
https://www.redfin.com/DC/Washington/1231-I-St-NE-20002/home/9909755
[/quote]
Checking in a couple of weeks later, 504 D and 1231 I are pending.  704 12th is off market after the previous price change, and 722 4th is still active.

I'm a little surprised. I thought 1231 I was overpriced for only 1278 sf (clearly I was wrong about that).  And while it still seems ridiculous to me that a 1500-1700 sf rowhouse could go for nearly a million dollars, that doesn't seem far off the going rate.  I don't want to start an argument about whether the market is cooling, but...is the Capitol Hill market cooling?  Or do these two houses just have problems that aren't obvious from the listings?[/quote]

704 12th sold for $814k in 2018 and they initially were asking $925K when clearly they had done nothing to improve the house over the last four years. Plus it still had a tenant, which is an immediate turn-off to many buyers. Kinda feel like a house that needs a lot of work and has someone already living in it is gonna be a tough sell, even if the location can't be beat (for some; others also would be turned off by its proximity to H Street).

The 4th Street house is a much better deal than the 12th Street house but there's nothing that really wows me about the interior. Seems perfectly livable if unexceptional, and I guess people want more than unexceptional if they're spending close to $1 million.[/quote]

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