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1402 Swann St. NW

Unit No. 3
Original Listing Price: $725,000 (May 14, 2007)
Current Listing Price: $539,000 (May 8, 2008)
Slash Rate: 26 percent
Square Footage: 1,200

Unit No. 4
Original Listing Price: $625,000 (Oct. 20, 2006)
Current Listing Price: $539,000 (May 1, 2008)
Slash Rate: 14 percent
Square Footage: 1,100

Unit No. 6
Original Listing Price: $669,000 (May 14, 2007)
Current Listing Price: $579,000 (April 14, 2008)
Slash Rate: 13 percent
Square Footage: 1,100

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This Logan Circle townhouse turned boutique-condo building is all about the fancy finishing: hand-scraped, dark-brown oak floors, custom cabinets that complement the floor coloring, and gorgeous granite countertops, says developer Joe Freeman. Unfortunately, for all his efforts, Freeman is still trying to offload three of his building’s eight units. Things are looking up though; Unit No. 3 is currently under contract and Freeman says he’s reviewing a “good offer” on Unit No. 4. Sales or no sales, Freeman says he’s hit his limit with his units: He’s not dropping his prices again. He’ll just rent them if offers don’t pan out. With gas prices rising and shorter commutes becoming more appealing, Freeman believes the market may be bottoming out in certain District neighborhoods. “I think a year from now, people will look back and say that was an opportunity that passed because I really think we’re going to pull slowly out of where we’ve been.”

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