Park View Real Estate Continuing Upward Trend

619 Irving Street.

619 Irving Street.

In reviewing area real estate listings, I’ve noticed that listing prices in Park View are continuing to go up. Conceding that a low supply of move-in-ready options is falling short of the flood of new residents to the District, I guess I’ve long since ceased being surprised. But still, there are a few recent listings that have continued to push the envelope of what has been considered the high end of Park View real estate and I wanted to put them out there to see what people think about them.

The first is 619 Irving Street, NW, which has been on the market for 13 days. It is listed at $848,900 (see full listing here). According to the listing, this house has 5 bedrooms, 3 ½ baths, and 2,024 sq. ft. of living space which makes the cost of this property $419 per sq. ft.

421 Newton Place, NW.

421 Newton Place, NW.

The next is at 421 Newton Place, which came on the market 5 days ago (see listing here). It is listed at $789,900. Like the house on Irving Street, it also has 5 bedrooms and 3 ½ baths. The listing states the house has 2,100 sq. ft. of living space which makes the cost of this property $376 per sq. ft. In walking past the property last night I saw that it will be having an open house this weekend, so I definitely want to check it out.

The last new listing I want to highlight — and one that actually does surprise me a bit — is 3646 New Hampshire Avenue. It has been on the market 4 days and is listed at $949,500. It’s close to the Georgia Avenue Metro, so I get the value of the location, but in reading the listing it sounds like this property still needs work. The listing states:

Home is in need of completion. Come see this 5BR 3Ba home in Columbia Heights just minutes to the Petworth Metro. There is New Plumbing, Upgraded Electric, 2 Zoned AC top floor renovation complete. Any materials you may want from the property be sure to include in your offer. ENTER THE HOUSE AT YOUR OWN RISK.

Clearly there is value in the new plumbing and electrical … but its impossible to get a true sense of a building in mid-renovations without having walked through it.

On another note, the property at 3639 New Hampshire Avenue has been on the market for 54 days now. This is somewhat unusual these days and I can only suspect that the $1,200,000 listing price might be a factor.

3646 New Hampshire Avenue.

3646 New Hampshire Avenue.

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8 Comments on “Park View Real Estate Continuing Upward Trend”

  1. ctk Says:

    Is it just me, or is it getting bubbly in here?

  2. Byron Says:

    Is it just me, or when you constrain housing supply by limiting development and letting neighbors get all up in each other’s business, then housing close to downtown and very near a Metro station becomes stratospherically expensive?

  3. JQ Says:

    Looks like the price on 619 Irving Street was just adjusted;

    7/4/2013 $874,900
    7/10/2013 $848,900
    7/17/2013 $824,900

  4. Pworth Says:

    Sorry Byron, these prices are insane and I don’t think the properties will sell at anything like these price points. You can live in Chevy Chase, Van Ness, or Capitol Hill (East) for these prices.

  5. d Says:

    619 Irving is still waaaaay overpriced at $825k. 616 Irving (admittedly a smaller house) just closed at $691k. Despite being bigger, i can’t see 619 going for anything more than $725-$750k (still a shockingly large number). Walking by the house, and looking at the pictures, I don’t think the work/finish is nearly as nice as 616 Irving. And if you want to see some comedy, walk around behind the house to the alley and see how they installed the garage door. Whoever was doing the work neglected to actually create a level parking pad so there is a huge gap between the bottom of the door and the concrete.

    That being said, the people behind 619 Irving (and the house on Irving at the corner) have flipped other properties in the neighborhood and from I’ve seen have been willing to sit on them for a long time to get something closer to their price point. This may take a while to sell. They also don’t seem to have open houses which is annoying because I want to check it!

  6. mike Says:

    I live VERY close to 619- its not that nice, and its also 200k more than we were first told they’d be asking for…

  7. JQ Says:

    Another price adjustment on 619 Irving…

    7/4/2013 $874,900
    7/10/2013 $848,900
    7/17/2013 $824,900
    7/23/2013 $799,800

  8. Sadie Benson Says:

    Interest rates on home loans
    are easing, if you wait few more weeks, you might find the most favorable time to purchase home.

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