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What sold in the District this past week…
1309 Spring Rd NW (Columbia Heights)
Three bedrooms; One and a half bathrooms; 1,804 square feet
List Date: Feb. 3, 2009
Original Listing Price: $350,000
Close Date: April 6, 2009
Analysis: Look at this house…$350,000 and gone in less than two months. In neighborhoods like Columbia Heights, Petworth, 16th Street Heights, Park View, Eckington and Brookland (those frozen in the mid-gentrification zone), you can’t go wrong pricing simple, habitable rowhouses at roughly $350,000. Give or take some tens of thousands—- depending on location, renovation need, etc.—-that’s what they go for. The formula worked for this house. This Brightwood house didn’t land too far from that mark either. The “formula” is a hunch of course, but one I’m pretty solidly behind. I ran a search for the sales of three bedrooms in Columbia Heights from the beginning of the year until now. Turns out this hypothesis was pretty dead-on: The median sold price is $360,000.