Anonymous
02/23/2024 10:38
Subject: Capitol Hill State of the Market?
Anonymous wrote:Is being inbounds for Brent still the draw it was a few years ago?
Yes. There are a lot of bad to mediocre elementaries in DC and Brent is not one of them. Being IB for a solid elementary continues to be a draw, especially on the east side of town where schools can be very hit or miss.
Anonymous
02/23/2024 10:36
Subject: Capitol Hill State of the Market?
Is being inbounds for Brent still the draw it was a few years ago?
Anonymous
02/22/2024 23:08
Subject: Capitol Hill State of the Market?
Anonymous wrote:Anonymous wrote:Anonymous wrote:
- 420 4th St SE - This one surprised me. Recently renovated, 3br, in zone for Brent, priced at $1.25. I was surprised this sat for 2 weeks and will be curious where it closes (https://www.redfin.com/DC/Washington/420-4th-St-SE-20003/home/9896121). Opens were busy but not crazy busy
That's not a great block. I know beggars can't be choosers, but I can see there being some hesitation.
It’s also new construction, which I personally would not want.
Not new construction, just renovated. It's still a really old house.
Anonymous
02/22/2024 22:19
Subject: Capitol Hill State of the Market?
Anonymous wrote:We bought peak of last year's market in the "close in" heart of the Hill. Took three offers waiving all/most contingencies, 100k+ escalations, and we landed in a fixer-upper at the top of our budget.
This year's market for the close in Hill seems to be the same. Two interesting datapoints:
- 16 8th Street NE - intentionally underpriced estate sale that needs SIGNIFICANT work. Open houses were flooded. Contingent 5 days after listing and sold for $180k over (https://www.redfin.com/DC/Washington/16-8th-St-NE-20002/home/9901644)
- 124 6th St NE - Similar play here (same listing agent, I heard). Estate sale with significant work ahead, sold for $150k over ask, contingent 5 days after list (https://www.redfin.com/DC/Washington/124-6th-St-NE-20002/home/9897148)
- 420 4th St SE - This one surprised me. Recently renovated, 3br, in zone for Brent, priced at $1.25. I was surprised this sat for 2 weeks and will be curious where it closes (https://www.redfin.com/DC/Washington/420-4th-St-SE-20003/home/9896121). Opens were busy but not crazy busy
How do those first two need “significant” work?
Anonymous
02/22/2024 22:18
Subject: Capitol Hill State of the Market?
Anonymous wrote:Anonymous wrote:
- 420 4th St SE - This one surprised me. Recently renovated, 3br, in zone for Brent, priced at $1.25. I was surprised this sat for 2 weeks and will be curious where it closes (https://www.redfin.com/DC/Washington/420-4th-St-SE-20003/home/9896121). Opens were busy but not crazy busy
That's not a great block. I know beggars can't be choosers, but I can see there being some hesitation.
It’s also new construction, which I personally would not want.
Anonymous
02/22/2024 22:12
Subject: Re:Capitol Hill State of the Market?
From the article
In moderately priced areas on the east side of the city, like Brookland and Woodridge, about 30% of homes have dropped their prices in 2024, while in higher-priced areas, like 16th Street Heights and Georgetown, that number is in the 10% range. In Chevy Chase and American University Park, very few listings have seen price reductions.
The percentage of listings with price reductions so far in 2024 is a bit higher than at this time last year.
Anonymous
Anonymous
02/22/2024 21:49
Subject: Capitol Hill State of the Market?
Anonymous wrote:Anonymous wrote:I feel like certain parts of the Hill are doing better than the others. I'm seeing a lot of listings in the blocks just south of H Street that have been sitting since the fall, a number of them with significant price cuts. Some need work, some don't:
https://www.redfin.com/DC/Washington/622-G-St-NE-20002/home/9898467
https://www.redfin.com/DC/Washington/511-F-St-NE-20002/home/9896874
https://www.redfin.com/DC/Washington/619-F-St-NE-20002/home/9898822
https://www.redfin.com/DC/Washington/924-Maryland-Ave-NE-20002/home/9904092
https://www.redfin.com/DC/Washington/608-9th-St-NE-20002/home/9902653
That might be because H street is not the Hill. Happy to talk about the merits and challenges of real estate on H, but comparing homes on 8th and E. Capitol with homes at 6th and G might as well be looking at Mars.
F Street is the officially recognized northern border. So yeah, most of those are the Hill.
Anonymous
02/22/2024 20:33
Subject: Capitol Hill State of the Market?
Anonymous wrote:I feel like certain parts of the Hill are doing better than the others. I'm seeing a lot of listings in the blocks just south of H Street that have been sitting since the fall, a number of them with significant price cuts. Some need work, some don't:
https://www.redfin.com/DC/Washington/622-G-St-NE-20002/home/9898467
https://www.redfin.com/DC/Washington/511-F-St-NE-20002/home/9896874
https://www.redfin.com/DC/Washington/619-F-St-NE-20002/home/9898822
https://www.redfin.com/DC/Washington/924-Maryland-Ave-NE-20002/home/9904092
https://www.redfin.com/DC/Washington/608-9th-St-NE-20002/home/9902653
That might be because H street is not the Hill. Happy to talk about the merits and challenges of real estate on H, but comparing homes on 8th and E. Capitol with homes at 6th and G might as well be looking at Mars.
Anonymous
02/22/2024 18:11
Subject: Capitol Hill State of the Market?
^^ a lot of those don’t get that it’s not 2021 anymore.
Anonymous
02/22/2024 17:25
Subject: Capitol Hill State of the Market?
Some of those need so much work that they won't even put photos in the listings! These are incorrectly priced - I have been through the one on MD and those photos make it seem larger than IRL.
Anonymous
02/22/2024 17:15
Subject: Capitol Hill State of the Market?
I feel like certain parts of the Hill are doing better than the others. I'm seeing a lot of listings in the blocks just south of H Street that have been sitting since the fall, a number of them with significant price cuts. Some need work, some don't:
https://www.redfin.com/DC/Washington/622-G-St-NE-20002/home/9898467
https://www.redfin.com/DC/Washington/511-F-St-NE-20002/home/9896874
https://www.redfin.com/DC/Washington/619-F-St-NE-20002/home/9898822
https://www.redfin.com/DC/Washington/924-Maryland-Ave-NE-20002/home/9904092
https://www.redfin.com/DC/Washington/608-9th-St-NE-20002/home/9902653
https://www.redfin.com/DC/Washington/622-G-St-NE-20002/home/9898467
https://www.redfin.com/DC/Washington/511-F-St-NE-20002/home/9896874
https://www.redfin.com/DC/Washington/619-F-St-NE-20002/home/9898822
https://www.redfin.com/DC/Washington/924-Maryland-Ave-NE-20002/home/9904092
https://www.redfin.com/DC/Washington/608-9th-St-NE-20002/home/9902653
Anonymous
02/22/2024 17:14
Subject: Re:Capitol Hill State of the Market?
Don't know how much to make of this because there are always some listings that drop their price - so what was the percent that dropped price prior to this year in this neighborhoods.
Still though....
https://dc.urbanturf.com/articles/blog/where_are_home_sellers_dropping_their_price_in_dc/21998
Anonymous
02/22/2024 14:30
Subject: Capitol Hill State of the Market?
Anonymous wrote:
- 420 4th St SE - This one surprised me. Recently renovated, 3br, in zone for Brent, priced at $1.25. I was surprised this sat for 2 weeks and will be curious where it closes (https://www.redfin.com/DC/Washington/420-4th-St-SE-20003/home/9896121). Opens were busy but not crazy busy
That's not a great block. I know beggars can't be choosers, but I can see there being some hesitation.
Anonymous
02/22/2024 13:58
Subject: Capitol Hill State of the Market?
We bought peak of last year's market in the "close in" heart of the Hill. Took three offers waiving all/most contingencies, 100k+ escalations, and we landed in a fixer-upper at the top of our budget.
This year's market for the close in Hill seems to be the same. Two interesting datapoints:
- 16 8th Street NE - intentionally underpriced estate sale that needs SIGNIFICANT work. Open houses were flooded. Contingent 5 days after listing and sold for $180k over (https://www.redfin.com/DC/Washington/16-8th-St-NE-20002/home/9901644)
- 124 6th St NE - Similar play here (same listing agent, I heard). Estate sale with significant work ahead, sold for $150k over ask, contingent 5 days after list (https://www.redfin.com/DC/Washington/124-6th-St-NE-20002/home/9897148)
- 420 4th St SE - This one surprised me. Recently renovated, 3br, in zone for Brent, priced at $1.25. I was surprised this sat for 2 weeks and will be curious where it closes (https://www.redfin.com/DC/Washington/420-4th-St-SE-20003/home/9896121). Opens were busy but not crazy busy
This year's market for the close in Hill seems to be the same. Two interesting datapoints:
- 16 8th Street NE - intentionally underpriced estate sale that needs SIGNIFICANT work. Open houses were flooded. Contingent 5 days after listing and sold for $180k over (https://www.redfin.com/DC/Washington/16-8th-St-NE-20002/home/9901644)
- 124 6th St NE - Similar play here (same listing agent, I heard). Estate sale with significant work ahead, sold for $150k over ask, contingent 5 days after list (https://www.redfin.com/DC/Washington/124-6th-St-NE-20002/home/9897148)
- 420 4th St SE - This one surprised me. Recently renovated, 3br, in zone for Brent, priced at $1.25. I was surprised this sat for 2 weeks and will be curious where it closes (https://www.redfin.com/DC/Washington/420-4th-St-SE-20003/home/9896121). Opens were busy but not crazy busy