While real estate sales have generally been strong in the Washington area—particularly
in Georgetown—in the past six months, they have felt like a return to the past, before
the market crashed and the Great Recession began. Since December 2012, seven sales
in the neighborhood have closed for between $6.5 million and $8.9 million. Admittedly
they are premium properties, but the dollar amounts are attention-getting, totaling
more than $45 million.
Here are the notable seven transactions of the past six months:
3303 Water Street, Northwest (condo apartment)—$6.5 million (listed at $6.65), seven
bedrooms, five full baths
All photographs by Carol Ross Joynt.
1248 30th Street, Northwest—$7.6 million (listed at $7.99), five bedrooms, six full
baths
3123 Dumbarton Street, Northwest—$7 million (listed at $8), six bedrooms, four full
baths
3044 O Street, Northwest—$8.6 million (listed at $9.2), nine bedrooms, seven full
baths
3249 N Street, Northwest—$7.5 million (listed at $7.85), six bedrooms, five full
baths
1405 34th Street, Northwest—$7.9 million (listed at $8.9), eight bedrooms, seven
full baths
3053 P Street, Northwest—Still on the market for $8.9 million, nine bedrooms, nine baths
What does it mean? In going over the numbers, Michael Rankin, managing director of TTR Sotheby’s International Realty, which handled the Water
Street sale, says, “I think it’s close to the activity of the former market.” He says
the recent big sales show “fair prices for these houses. None sold in a day. They
all took time to sell, and they all sold for less than the list price.” On that basis
he considers the numbers not remarkable, but he’s encouraged. “Georgetown has its
legs again.” He also says it’s not limited to Georgetown, or to Washington—it’s “upper-end
markets” anywhere.
Are all the big-ticket houses gone? No. Rankin mentioned a mansion at 3053 P Street,
which is listed by Sotheby’s. It has nine bedrooms, seven full baths, an attractive
garden and pool, parking, and a garage. At one time the price was up near $12 million.
The current asking price is $8.9 million.
While there’s been a trend of big-ticket sales, the fastest-moving part of the market,
according to Rankin, is something smaller in size and price. “What’s moving the fastest,
the sweet spot in Georgetown, is still parking, garden, and under $2.5 million.”
Don’t Miss Another Big Story—Get Our Weekend Newsletter
Our most popular stories of the week, sent every Saturday.
7 Luxury Properties, All $6 Million Plus, Have Sold in Georgetown in the Past 6 Months (Photos)
The sales total more than $45 million.
While real estate sales have generally been strong in the Washington area—particularly
in Georgetown—in the past six months, they have felt like a return to the past, before
the market crashed and the Great Recession began. Since December 2012, seven sales
in the neighborhood have closed for between $6.5 million and $8.9 million. Admittedly
they are premium properties, but the dollar amounts are attention-getting, totaling
more than $45 million.
Here are the notable seven transactions of the past six months:
3303 Water Street, Northwest (condo apartment)—$6.5 million (listed at $6.65), seven
bedrooms, five full baths
1248 30th Street, Northwest—$7.6 million (listed at $7.99), five bedrooms, six full
baths
3123 Dumbarton Street, Northwest—$7 million (listed at $8), six bedrooms, four full
baths
3044 O Street, Northwest—$8.6 million (listed at $9.2), nine bedrooms, seven full
baths
3249 N Street, Northwest—$7.5 million (listed at $7.85), six bedrooms, five full
baths
1405 34th Street, Northwest—$7.9 million (listed at $8.9), eight bedrooms, seven
full baths
3053 P Street, Northwest—Still on the market for $8.9 million, nine bedrooms, nine baths
What does it mean? In going over the numbers,
Michael Rankin, managing director of TTR Sotheby’s International Realty, which handled the Water
Street sale, says, “I think it’s close to the activity of the former market.” He says
the recent big sales show “fair prices for these houses. None sold in a day. They
all took time to sell, and they all sold for less than the list price.” On that basis
he considers the numbers not remarkable, but he’s encouraged. “Georgetown has its
legs again.” He also says it’s not limited to Georgetown, or to Washington—it’s “upper-end
markets” anywhere.
Are all the big-ticket houses gone? No. Rankin mentioned a mansion at 3053 P Street,
which is listed by Sotheby’s. It has nine bedrooms, seven full baths, an attractive
garden and pool, parking, and a garage. At one time the price was up near $12 million.
The current asking price is $8.9 million.
While there’s been a trend of big-ticket sales, the fastest-moving part of the market,
according to Rankin, is something smaller in size and price. “What’s moving the fastest,
the sweet spot in Georgetown, is still parking, garden, and under $2.5 million.”
Don’t Miss Another Big Story—Get Our Weekend Newsletter
Our most popular stories of the week, sent every Saturday.
Most Popular in News & Politics
Capitol Riot Suspect Arrested in DC Airport After Bizarre Series of Events
Why Were Last Night’s Inauguration Fireworks So Amazing?
Everything You Need to Know About the New First and Second Families
The Internet Is Freaking Out Over Bernie Sanders Social Distancing in His Mittens
Anthony Fauci Sure Looks Happy in the Biden Administration
Washingtonian Magazine
January 2021: Joe Town!
View IssueSubscribe
Get Us on Social
Get Us on Social
Related
PHOTOS: The Most Expensive Homes Sold in Washington in 2020
The 7 Most Notable Homes Sold This Month in the Washington Area—and Who Bought Them
The 7 Most Notable Homes Sold This Month in the Washington Area—and Who Bought Them
The 7 Most Notable Homes Sold This Month in the Washington Area—and Who Bought Them
More from News & Politics
DC’s International Spy Museum Will Reopen This Weekend
Capitol Riot Suspect Arrested in DC Airport After Bizarre Series of Events
WAMU Dismisses Two People as Result of Investigation Into Workplace Culture
Anthony Fauci Sure Looks Happy in the Biden Administration
Maryland Congressman Andy Harris Tried to Bring a Gun Into the House Chamber
Quiz: How Well Do You Know Your Local Joe Biden and Kamala Harris Trivia?
Why Were Last Night’s Inauguration Fireworks So Amazing?
Biden Removes Trump’s Diet Coke Button—and Makes a Few Other Changes to the Oval Office