JUST LISTED: 1414 Belmont Rd NW #102 Washington DC

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The spring market is here, and we’re excited about our newest listing in DC! This modern condo is located at 1414 Belmont Rd N at the Solea in bustling Columbia Height neighborhood.

Details on the unit:
A spacious studio that lives like a one bedroom!
The unit features 670 sq feet of living space, 12 ft ceilings, gleaming wide plank, bamboo hardwood floors and fresh paint throughout.
Ideal layout with plenty of space for a bedroom and living area.
Updated kitchen with granite countertops and newer cabinets.
Spacious foyer perfect for an office nook.
Walk-in closet with custom shelving.
Expansive bathroom with large vanity, shower/tub, and tiled floor. Stacked washer and dryer in unit.
The front door opens to a private and secured courtyard with outdoor furniture.
Reserved parking spot, just steps from your front door.
The building was built in 2008, is pet-friendly, and offers a low condo fee.
Ideal location, just 1 Block to Meridian Hill Park- 4 blocks to Metro- Mins to 14th St, U St, and Columbia Heights!
Plenty of retail & restaurants nearby: Busboys & Poets Kapnos, Provision no 14, Marvin, Policy and more!

This unit is unique because it’s almost twice the size of other studios and features convenient access right off the private courtyard. Other studios in the building have sold for $280K-$330K, depending on their size and updated. One bedroom units in the building have sold for $390K-$420K, depending on their size and amenities.

This unit is being listed for $389,900. Please contact us for a private showing!


Housing Inventory Continues to Dip

Normally in July we’re talking about the summer slowdown, but this year the slowdown has to do with the lack of inventory, not a lack of buyers. It’s truly dramatic, and very frustrating for buyers.

Check out these numbers:

Northern Virginia:  1.75 months of inventory
Arlington: 1.57 months of inventory
DC:  2.29 months of inventory

A balanced market has six months of inventory! As a point of reference, in August 2005—the peak of the peak of the housing bubble—we had 1.6 months of inventory in Northern Virginia. These are scary numbers, folks!

The “turnaround” is old news at this point: CNN Money notes that prices have risen and “the worst is over.”  The WSJ announced “Housing Passes a Milestone” and that the numbers are convincing. The WSJ article does note that shadow inventory of foreclosures creates a certain risk to the recovery, but RBI’s mid year distressed inventory report for the DC area reports that distressed sales in our area are down 22% from last year. With such low inventory rates here in DC, we are begging for some of this “shadow inventory” to be released, if it exists!

What’s driving the buyers? Still low interest rates, with every week driving to new record lows. How long will this keep up? Investors are out in droves. In the District in the past 30 days, 132 of 689 closed transactions—that’s 19%!!—were ALL CASH.  No wonder “regular” buyers are frustratedthey can’t compete!

If you know someone looking to move, please contact us. And if you’re thinking of selling, we’ll be happy to provide you with a free market analysis of your home and review of statistics in your local neighborhood.