February 2013

The market for loft condos on Church Street in Logan Circle has remained blistering hot over the last year.  If you are interested in owning and living in a Church Street loft….the best advice we can offer is to jump in aggressively with both feet when a unit comes on the market!

Over the last year, 14 units in the 1400 block of Church Street have sold.  Prices have ranged from a low of $521,000 for a 1 BR / 1 BA /  833 SF unit at Lofts 14 to a high of $1,140,000 for a 2 BR /  2.5 BA /  1,789 SF unit at Lofts 14.

Selling metrics for Church Street units include a lofty average selling price to listing price ratio of 99.9% and an average of only 14.4 days on the market.  Additionally, nine of the 14 units on Church Street sold at above asking price.  Here

Neatly tucked on the 2000 block of 16th Street between the best addresses Balfour and the Embassy of Equatorial Guinea, sits 2008 16th Street.  This four-story condo building offers old-world charm in an intimate setting of just 26 units.

With the excitement of the U Street Corridor and Dupont Circle just steps from your front door, it is tough find a better location in the District to call home than 2008 16th Street.  Located just three blocks from the Metro makes for an easy commute from this building.

Very few units have sold in recent years at 2008 16th Street with the last sale taking place in December of 2011.  Currently, there are two units listed for sale at 2008 16th including a recently renovated 802 SF unit on the third floor listed by TTR

The most expensive condo to sell in the District during January 2013 was in Georgetown at the Residences at the Ritz Carlton located at 3150 South Street NW #2E Washington, DC 20007.  This 3 BR / 3.5 BA / 3,006 SF condo features stunning Potomac River views and includes two parking spaces.  The selling price was $3.4M / $1,131 SF, which was 92% of the asking price.

Congratulations to selling Realtor Monica Boyd of Coldwell Banker Residential Brokerage for closing the most expensive condo sale in the District in January 2013.

Honorable mention for the second most expensive DC condo sold in January 2013 was  in the West End at 22 West located at 1177 22nd Street NW #9H, Washington, DC 20037.  This 2 BR / 3 BA / 1,869 SF condo includes two parking

DC Condo Boutique team member Donna Mank represented the buyer of a new construction condo at the Aston on 14th Street in Logan Circle.  The Aston is located at the corner of 14th Street and R Street and was designed by architectural firm Bonstra | Haresign.

Donna Mank's buyer purchased unit #2 at the Aston featuring 1 BR /  1 BA / 597 SF that sold on February 15th 2013 for $299,000 / $501 SF.  The DC Condo Boutique team has invested the necessary time to thoroughly know the new construction projects currently available in the District and can help guide buyers through the process of purchasing a new construction condo.

CNN Money released a study highlighting metro areas with the highest concentration of wealthy residents.  The standard used by the report is the top 5% of incomes, which is defined as households earning over $191,469 annually.

The DC metro area was ranked third nationally in the study with 14.1% of our households in the top 5% of incomes.  We only trailed Stamford, CT (17.9%) and San Jose, CA (15.9%) who held the top two positions.

The growing wealth of the DC metro area is evident to us every day in the real estate industry.  Bidding wars with multiple cash buyers for $1M+ hot listings are commonplace in our current market.  For well-priced listings in the $500K range, it is not uncommon to see more than 10 offers within hours of the property coming on

The U Street Corridor is one of the most trendy and hot DC neighborhoods  It features an interesting smorgasbord of residential housing options including restored Victorian-era row houses, upscale lofts and contemporary urban condo developments.  

U Street redeveloped and has flourished after the U Street/African-American Civil War Memorial/Cardozo Metro Station was opened in the neighborhood in 1991.  This station provides service to the Green Line and also to the Yellow line in off-peak hours.  The U street neighborhood has emerged as one of the District's top entertainment neighborhoods with many restaurants, club and shopping venues.

Often referred to as part of DC's Mid-City, the U Street Corridor neighborhood is bounded by R Street to the south, New

DC Condo Boutique team member Mansour Abu-Rahmeh represented the buyer of a condo at the Hamilton on W located at 1418 W St NW #402 in DC's U Street Corridor neighborhood.  The unit featured 1 BR / 1 BA / 612 SF and closed on February 8th 2013 for $361,000 / $590 SF.

The Hamilton on W is located in DC's dynamic U Street Corridor and half a block from 14th Street.  Walk to the U Street Metro, Yes Organic, Vida Fitness and all the clubs and restaurants in the U Street and 14th Street Corridors.

Enter the gold trimmed doors of the Papermill Building at 3299 K Street and get totally awed by marble-lined atrium lobby of this mixed-use development.  With twenty-five residential condos, the Papermill offers an intimate boutique experience at a premium Georgetown location.

Papermill Condos feature high ceilings, an abundance of windows that flood units with natural light and fantastic views of the Potomac River are available from many of the units.  The development features a parking garage and the convenience of walking to restaurants, theater, markets, the Kennedy Center and everything else in Georgetown.  The Georgetown Waterfront Park, which is located across K Street from the Papermill, provides access the the popular Capitol Crescent Trail for

In a recent study released by Atlas Van Lines, Washington, DC led the nation for inbound migration for the fifth consecutive year. Allied's study based on data from over 73,000 Interstate moves detailed that 63% of DC's moves were inbound.  Our experience here on the front lines of the DC real estate market validates these findings as we talk multiple times a week with someone planning a move to the District.

If you are one of those moving to DC and are contemplating buying a condo, here is a resource to learn more about the various DC neighborhoods.  Our team is available to help narrow and pinpoint your search for the perfect new home in the District.