Open House Blog > The Real Estate Market
On the Market: Hundred-Year-Old Victorian on Capitol Hill
The Basics: 4 bedrooms, 4.5 baths, about 3,800 square feet spread on four levels
Address: 832 D Street, SE
The current owners, who bought the house three years ago for $1.225 million, have spent the past two years doing renovations. Changes include updating the kitchen, adding new custom light fixtures, and restoring the original dumbwaiter between the kitchen and the formal dining room above it.
The house has been on the market for about 270 days, and the original asking price of $1.449 million has been dropped five times. Listing agent John Lumsden of Coldwell Banker attributes the price reductions to bad timing. Any property priced over $1 million is just taking longer to sell in this economy, he says. But he’s also optimistic, saying he’s seen an upward tick in the market recently.
What do you think? Still overpriced?