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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Trouble is places like Potomac, Rockville, Silver Spring, Gaithersburg were where folks who were dual Feds moved as priced out of Chevy Chase, Tenley Town, DC proper as recently as 2019.

Today even Gaithersburg is selling one million dollar homes and Potomac a nice large home in good shape, closer in on good block is like 1.5 million.

Sure there are less. But Potomac one million is a smaller fixer upper and as recently as 2011 one million in Potomac was a decent home.

Capital Heights in 2011 you could buy a wreck if a row house 600k put some elbow grease in and it more than doubled

Look folks still want to live close in. Small DC homes will still sell for a ton.

Large Potomac homes also will sell a lot but more building cost  related as material has skyrocketed.

My block in Potomac all very large brick colonials buildings in the 1970s. My neighbor has a total square foot 7,000 square foot house all brick colonial with slate roof built in 1975 in mint condition as they gut renovated in 2018. That cost to rebuild is crazy!! [/quote]

Then why are the condo prices in SE DC still stagnant? There are still a lot of neighborhoods with good connectivity, location but they are very cheap. why? And do you expect them to come up in the future?[/quote]

I think a regional thing. In DC older condos in particular folks want new ones or expect very low common charges.

Meanwhile in NYC Pre-War condos and coops or more desired. I honestly think an older DC condo with higher comm in charges due to a recent building wide updating is a great deal as folks in DC don’t like older or higher common charges.

I bought such a unit in 2013 and common charges were $150 a month higher due to NCB loan to redo roof, concrete and driveways and outside painting. All good things. When loan paid off common charges went down. But you have to be very very careful as could just be high as board and managing agents mismanaged buildings. I think older condos are last deals in DC. Also coops as misunderstood in DC [/quote]

Some of these condos are pretty good and you can get an established community for less than $120-130K for 1 bedroom. [/quote]

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