Congrats to our client, Damon for selling his investment property in DC! This property have over 39 showings in 4 days and received 5 offers in total, all offering 10k+ above list price at a minimum. Several offers even waived Home Inspection and appraisal contingencies.
This was a beautiful 2 bedroom, 1 bath, garden style condo in Eckington. Properties in this area range in price, and where from $250K up to $450K. The prices are reflected in the size and amount of upgrades in each unit.
Those most comparable properties were two bedroom units, ranging from $336-$450K. Some boast more square feet, and more updated kitchen and bathrooms compared to the subject, but should help substantiate a $320K list price.
Additionally, we sold unit 4 in the same building late last summer, when the market was slower and also received multiple offers over $310K for a very similar layout. The market is much more active now, and demand is higher. We initially listed our unit at $289K, with a reasonably updated kitchen (granite counters, newer cabinets, stainless appliances) and hardwood floors throughout. The unit also had two brick accent walls, and a bay window.
We close at $320K, and $1500 in seller subsidy.
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