RSS Feed1 BRs – Underwater Or On Dry Ground?
Real estate prices are on the minds of many as the Fed’s most recent action, a 1/4 point hike in the Fed funds rate to 5.25%, continues a long string of rate hikes that began in June 2004
Gallery Place – Four 1 BRs for sale; High: $519K; Low: $445K
– High Unit Ask Price: $519K; Most Recent Sale Price: $433.9K
–> Increase: $85.1K/19.6%
– Low Unit Ask Price: $445K; Most Recent Sale Price: $292.9K
–> Increase: $152.1K/51.9%
Clara Barton – Two 1 BRs for sale; High: $419.9K; Low: $419K
– High Unit Ask Price: $419.9K; Most Recent Sale Price: $309.9K*
–> Increase: $110K/35.5%
– Unit Low Ask Price: $419K; Most Recent Sale Price: $318.9K
–> Increase: $100.1K/31.4%
Lafayette – Two 1 BRs for sale; High: $434.5K; Low: $419.9K
– High Unit Ask Price: $434.5K; Most Recent Sale Price: $293.9K
–> Increase: $140.6K/47.8%
– Unit Low Ask Price: $419.9K; Most Recent Sale Price: $282.9K
–> Increase: $100.1K/35.5%
Mather Studios – One 1 BR for sale; High/Low: $549K
– High/Low Unit Ask Price: $549K; Most Recent Sale Price: $422.3
–> Increase: $126.7K/30%
6th Street Flats – No 1 BRs for sale
Cosmopolitan – No 1 BRs for sale
Residences at Terrell Place – No 1 BRs for sale
(*) Sales price indicated as $0; assessed value quoted which can be lower than sales price
Note: Data retrieved from MRIS Washington DC MLS and DC City Government Real Property Sales Database on 7/2/2006.
For those who want to brush up on the economics of today’s current conditions, check out Calculated Risk.
The MLS listings are littered with phrases like ‘Motivated Sellers’, ‘Price Reduced’ or ‘Owners Are Anxious.’ How are the 2 BRs and 3 BRs doing? Are sellers out of touch or is this the time to buy?
Potbelly on Indiana Avenue Open
Another Potbelly Sandwich Works opened in the Penn Quarter at 637 Indiana Avenue, NW next to the Top Shelf Bar and Lounge. The assembly line deli is a two story affair with exposed brick, hardwood floors and a signature potbelly stove perched at the front. Seating is a mix of booths, two top and four top tables. PQResident always recommends The Wreck and an Oreo shake for first timers.
Is Balducci’s Back In Gallery Place/Penn Quarter?
A GP Living reader spoke with a construction worker who confirmed that Balducci’s is, once again, going to be occupying the Jefferson space! However, we haven’t found any official news – oh, the drama!
Potato Valley Cafe Coming To Penn Quarter!
Pat wrote in to inform us of the following:
- Hi, I wanted to pass on that there is construction going on near the clara barton lobby entrance. The brown paper on the windows is gone and, according to construction workers, the Potato Valley cafe is coming in. Here’s a link to the one in Annapolis.
Thanks Pat! Looks like a nice alternative to the national food chains.