I thought you folks out there might enjoy a little post-housing crisis market report. Here is a break down on post-crisis sales in Northwest D.C. for the month of May thus-far:
49 single family homes have closed since May 1, 2008 in NW D.C.
The average list price was $1,053,714 and the median list price was $869,500
The average sales price was $1,012,558 and the median sales price was $853,500
The average list price to sales price ratio is 96% and median was 98%
Average seller subsidy was $1,359
The average days on market was 37
HAPPY HOUSE-HUNTING!!
As I am sure many of you have heard, there is a huge amount of new development currently taking place (and slated to take place) in what is called the NoMa Business Improvement District of DC. NoMa is short for North of Massachusetts Avenue. Over the next 5 years, an enormous amount of mixed-use development will be erected in the area between Mass Ave and R Street NE, and between North Capitol Street and 2nd Street NE. NPR Radio has just moved it's headquarters there. There will be condos, apartments, restaurants, nightlife, businesses - you name it. On Monday, Mayor Fenty oversaw the demolition of Terrell Junior High to make room for the new North West One sight, a $47 million mixed use facility to include apartments, a new library, recreational facilities, condos, townhouses, etc. For more information on what to expect, boundary maps, and development time lines, visit the NoMa BID website here:
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Long & Foster Realtors Georgetown Sales 1680 Wisconsin Avenue NW Washington, DC 20007 www.walkerhomes.lnfre.com
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