What's Hot: A (Slight) Price Drop For Dianne Feinstein's DC Home | The Plans For a 68-Unit Condo/Townhouse Project in Downtown Bethesda
Sale of Columbia Heights Home Sets New Bar For Neighborhood
1300 Fairmont Street NW
Columbia Heights was one of the first DC neighborhoods over the last decade to be dubbed transitional, explode with a flurry of development along its main avenue, and see a marked population shift.
Home prices in the area did what they usually do when this perfect storm occurs: they rose. However, for the most part, the home value increase was largely restricted to the low to mid six-figure price range where one and two-bedroom condos saw notable appreciation. A recent sale may be indicative that the price increases are extending into the upper brackets.
1300 Fairmont Street NW (map), a 5,000 square-foot home that UrbanTurf featured at the end of 2010, recently sold for $1.4 million, making it the most expensive single-family home to ever sell in Columbia Heights. While the $1 million barrier has already been broken in the area a few times, the Fairmont home sold for about $300,000 more than any other single-family residence. Prior to its sale, the highest-priced home to sell was a house on Kenyon Street for $1.125 million.
Entryway
It should be noted that the five-bedroom home is massive and was extensively renovated over the last several years. It now features three decks, a gated parking area for three cars, a lower level that now has a home office but could be a separate apartment, a completely renovated kitchen and a master suite on the top floor that has a gas fireplace and a custom-built multi-media system
Granted the house sold at about a $200,000 reduction from its original list price of $1.599 million, but nevertheless, its purchase price is noteworthy.
“The $1 million dollar sales price was a barrier in Columbia Heights for years,” Brandon Green, listing agent for 1300 Fairmont, told UrbanTurf. “I predict we will start to see many more sales of well renovated homes exceed $1 million.”
See other articles related to: columbia heights, dclofts
This article originally published at https://dc.urbanturf.com/articles/blog/sale_of_columbia_heights_home_highest_ever_for_neighborhood/3858.
Most Popular... This Week • Last 30 Days • Ever
Georgetown Metropolitan reported on Tuesday that the Instagram account for the nation... read »
The National Park Service has given the green light for DC's 62 year-old stadium to b... read »
A Home Equity Line of Credit, commonly referred to as HELOC, is a borrowing product t... read »
UrbanTurf continues our tour of neighborhood developments around the region as we tak... read »
A regular inclusion as one of DC's most expensive housing markets, Georgetown remains... read »
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro