Sale of Columbia Heights Home Sets New Bar For Neighborhood

• July 25th 2011

by Mark Wellborn

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.

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.”

This article originally published at https://dc.urbanturf.com/articles/blog/sale_of_columbia_heights_home_highest_ever_for_neighborhood/3858.