The Best Bet in 2014: You Paid Above Asking

by Lark Turner

UrbanTurf usually stays away from publishing rankings or lists…except at the end of the year when we look back at all DC’s residential real estate scene had to offer during the previous 12 months. So, this week, we are looking at not only the best, but the most intriguing and peculiar things that came across our radar over the course of the past year.

Competition for homes on the market in DC was fierce this year. In two sought-after neighborhoods — American University Park and Mount Pleasant — homes sold above their asking price on average for the first 11 months of 2014. In other neighborhoods, from Georgetown to Bloomingdale, the bidding wars caused listings to sell for hundreds of thousands of dollars above the original price. The homes that soared well above asking were typically historic, with thoughtfully designed renovations showcasing original details. They typically had especially well-designed kitchens and ground-floor spaces intended for traditional entertaining.

Here’s a look at a few of the properties we featured this year that ultimately sold for well above their list price.

The Best Bet in 2014: You Paid Above Asking: Figure 1
132 U Street NW

Three Fireplaces in Bloomingdale: $111,500 Over Asking

This updated Bloomingdale home, which sold for more than $110,000 over its list price just seven days after hitting the market, has another snazzy, updated kitchen that opens to the dining room and leads out to a screened-in porch overlooking a parking pad. Inside, the layout isn’t quite open concept, but the bathrooms and fixtures are nicely updated. The new owner has a fairly large master bedroom, along with three fireplaces and a one-bedroom income suite.

  • Address: 132 U Street NW (map)
  • List Price: $799,000
  • Sold Price: $910,500
  • Bedrooms: Three
  • Bathrooms: Three
  • Year Built: 1906
  • Days on Market: Seven
  • Listing Agents: Alexandra DeLorme and Laura Pimentel, Lindsay Reishman Real Estate

The Best Bet in 2014: You Paid Above Asking: Figure 2
61 W Street NW

A LeDroit Park Rowhouse: $120,100 Over Asking

The rowhouse near the eastern edge of LeDroit Park had a really nicely designed interior, including an updated kitchen with a tucked-away bar-height breakfast nook, a first floor with lots of entertaining space, and a finished basement memorably featuring a mannequin in the listing photos. The home also has a deep backyard with a deck and a stone path leading in from a parking pad. The home hit the market on a Thursday in mid-July and was under contract by the following Tuesday. It’s clear there were a number of interested buyers. Listed for $729,900, the home ultimately closed for $850,000.

  • Address: 61 W Street NW (map)
  • Listing Price: $729,900
  • Sales Price: $850,000
  • Bedrooms: Three
  • Bathrooms: 2.5
  • Year Built: 1912
  • Days on Market: Six
  • Listing Agent: Christopher Bulka, Coldwell Banker Residential Brokerage

The Best Bet in 2014: You Paid Above Asking: Figure 3

Three Beds in Georgetown: $175,000 Over Asking

This three-bedroom, 2.5-bath Georgetown townhouse was featured in Best New Listings a few weeks ago, and ended up selling for well above the asking price. The new owner gets to live in the fireplace-outfitted master suite and potentially use the finished lower level as an income suite. That should help on the mortgage for this home, which sold in under ten days for $175,000 above asking.

  • Address: 2815 Q Street NW (map)
  • Price: $1.595 million
  • Sale Price: $1.77 million
  • Bedrooms: Three
  • Bathrooms: Two
  • Year Built: 1900
  • Days on Market: 9
  • Listing Agent: Nancy Taylor Bubes, Washington Fine Properties

The Best Bet in 2014: You Paid Above Asking: Figure 4

A Six-Bedroom in Georgetown: $280,000 Over List

This six-bedroom home came with a typically high Georgetown price tag, but offered a lot, with 5,000 square feet, four and a half bathrooms, a rental suite downstairs and plenty of period details. Despite the sky-high original list price of $2,995,000, it was likely a bit underpriced for its size, location and extremely good condition. One of the home’s best features is the kitchen, which has a tin ceiling and multiple seating areas. The home has a very deep backyard by Georgetown standards, which the description notes is big enough for a pool. Maybe that’s what convinced the eventual buyer to jump $280,000 over the list price in just four days.

  • Address: 1521 31st Street NW (map)
  • List Price: $2,995,000
  • Sold Price:$3,275,000
  • Bedrooms: Six
  • Bathrooms: 4.5
  • Year Built: 1880
  • Days on Market: Four
  • Listing Agent: Michael Rankin, TTR Sotheby’s International Realty

Photo courtesy of HomeVisit

See other articles related to: best of 2014, above asking

This article originally published at https://dc.urbanturf.com/articles/blog/best_bet_in_2014_you_paid_above_asking/9319

1 Comment

  1. monademarkpv said at 8:33 pm on Monday December 15, 2014:
    3 out of the 4 listings above had mention of either an established rental unit or the potential for one. Do you think that had a good part to do with why they went well over asking? Can't beat income that will probably go up a little every year.

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. Visit guides.urbanturf.com or start browsing below!

Northern Virginia

Profiles of 14 neighborhoods across Northern Virginia

Looking to Give People A Reason to Stay Past 6pm
Happily Straddling the Line Between City and Suburb
Columbia Pike
Arlington’s Neglected Stepchild is Getting a Makeover
Crystal City
Turning Lemons into Lemonade
Lyon Village
Developing An Air of Exclusivity?
Hitting Its Growth Spurt
An Urban Village Hitting Its Stride
Del Ray
Virginia’s Small Town Near the Big City
Eisenhower Avenue
The Vibrancy Might Take a Few Years
The Quiet Neighborhood By the Beltway
Old Town
Mayberry By The Potomac
132 Commerical-Free Acres
Downtown Falls Church
Staying the Same in the Midst of Change
Tysons Corner
Radical Change Could Be On The Way

See more Northern Virginia »


Profiles of 14 neighborhoods in suburban Maryland

Small-Town Living in the State Capital
Bedroom Community Gets Buzzing Cache
Cabin John
In With The New While Maintaining the Old
Chevy Chase
Affluence, Green Lawns and Pricey Homes
Downtown Silver Spring
Experiencing a Resurgence After a Bumpy History
A Suburb on Steroids
Rockville Town Square
Despite the Dynamism, Still Somewhat Generic
Takoma Park
More Than a Little Bit Quirky
A Foodie Magnet on the Verge of Change
Capitol Heights
Kudzu, Front Porches and Crime
Glass Half Full or Half Empty?
Mount Rainier
Artists, Affordable Homes and A Silo Full of Corn
National Harbor
A Development Rises Next to the Potomac
Riverdale Park
A Town Looking For Its Identity

See more Maryland »

Northwest DC

30+ neighborhood profiles for the city's biggest quadrant

16th Street Heights
DC's Sleeper Neighborhood
Where (Almost) Everyone Knows Your Name
AU Park
One of DC’s Last Frontiers Before the Suburbs
DC’s Northern Neighborhood on the Cusp
DC’s 535 House Neighborhood
Cathedral Heights
Do You Know Where That Is?
Chevy Chase DC
Not to Be Confused With the Other Chevy Chase
Cleveland Park
Coming Back After A Rough Year
Columbia Heights
DC’s Most Diverse Neighborhood, But For How Long?
An Island of Serenity East of the Park
Dupont Circle
The Best of DC (For a Price)
Foggy Bottom & West End
Where the Institutional Meets the International
Forest Hills
Ambassadors and Adventurous Architecture
Foxhall Village
350 Homes Just West of Georgetown
Friendship Heights
A Shopping Mecca With a Few Places to Live
History, Hoyas and H&M
Glover Park
One of DC’s Preppier and More Family-Friendly Neighborhoods
A Posh View From Embassy Row
LeDroit Park
A Quiet Enclave in the Middle of the City
Logan Circle
Trendy Now, But Not By Accident
Mount Pleasant
Sought-After Homes Surround Main Street in Transition
Mount Vernon Triangle
From Seedy to Sought-After
The Long, Skinny Neighborhood at the City’s Northwest Edge
Park View
It’s Not Petworth
Penn Quarter/Chinatown
DC’s Go-Go-Go Neighborhood
Getting a Vibrancy of Its Own
The Duke’s Former Stomping Ground
Shepherd Park
DC’s Garden of Diversity
Spring Valley
A Suburb With a DC Zip Code
Not To Be Confused With Takoma Park
Not Quite Like Its Neighbors
U Street Corridor
The Difference a Decade Makes
Woodley Park
Deceptively Residential
Adams Morgan
No Longer DC’s Hippest Neighborhood, But Still Loved by Residents

See more Northwest DC »

Southwest DC

The little quadrant that could

Southwest Waterfront
A Neighborhood Where A Change Is Gonna Come

See more Southwest DC »

Northeast DC

Profiles of 10 neighborhoods in NE

New Development Could Shake Up Pastoral Peace
A Little Bit of Country Just Inside the District’s Borders
Not to Be Confused With Bloomingdale
Fort Totten
Five Years Could Make a Big Difference
H Street
A Place To Party, and To Settle Down
The Northeast Neighborhood That Few Know About
Michigan Park
A Newsletter-On-Your-Doorstep Community
Evolving from a Brand to a Neighborhood
Ripe for Investment Right About Now
The Difference 5 Years Makes
Big Houses, A Dusty Commercial Strip and Potential

See more Northeast DC »

Southeast DC

6 neighborhoods from Capitol Hill to East of the River

Capitol Riverfront
Still Growing
Hill East
Capitol Hill’s Lesser Known Neighbor
Congress Heights
Gradually Rising
Notable for Its Neighborliness
Historic Anacostia
Future Promise Breeds Cautious Optimism
Eastern Market
A More European Way of Living

See more Southeast DC »