I decided to look back at some of the houses I reviewed back in January of this year and compare them with the DC Government’s Real Estate sales database, which covers things sold up to mid March, and what I found makes me question the hot market. Of 6 houses that had open houses in early to mid January, 1 sold. The one house that did sell sold for $30K less than it’s listing price, for $430,000.
Of course the market is kinda slow in Winter. Then there were houses that were just plain overpriced. I mean I like Truxton and the surrounding areas but anything over 1/2 a mill has got to be one hell of a house. The neighborhood is still lacking in some areas. The things people want like a choice of restaurants, good parks, street corners without drug dealers, will come in time, but are not here now. So the prices should reflect that those things are currently lacking.
Of course, the houses that haven’t been listed as selling could be under contract. Possible. It would be interesting to see what price is the selling price. Are houses selling below the asking price? Are any above the asking price and by how much? What is the market saying? I guess I’ll have to wait to find out.