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Open House Blog > The Real Estate Market

On the Market: How low will it go?

List price: $1,895,000
The Basics: Five bedrooms, four-and-a-half bathrooms
Address: 2719 P Street, NW

In these times, it’s not uncommon to come across price reductions in the real-estate market. This Victorian in Georgetown is no exception. Going for $155,000 less than the 2006 purchase price, the house is listed for $1,895,000. When it originally hit the market in May 2008, the asking price was $2,850,000. It has since dropped four times. “We’re simply very motivated to move the house,” says listing agent Chris Ferguson of TTR Sotheby’s International Realty.

The property’s low(er) price isn’t its only draw. It’s in the heart of Georgetown close to Rose and Montrose parks, Rock Creek Parkway, and Dupont Circle. It was built in 1904 and has off-street parking for two cars. The five-bedroom, four-and-a-half bathroom property was renovated in 2005, adding a new roof and new heating, ventilating, air conditioning, and electrical systems. The bathrooms have Waterworks fixtures.

What do you think? Still overpriced, or will the most recent price cut do the trick?

More pictures below. 


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