Brookland Real Estate Market Update November 2013

Brookland Real Estate Market Update November 2013
Here are some of the more interesting data points for October sales from Rbintel.com and MRIS.com for Beautiful Brookland.
For 20017 zipcode

The inventory of homes for sale in Brookland in October is significatly below the 5 year average.  This reflects the fact that the majority of homes that came on the market went under contract in October. Properly priced and presented homes in Brookland are selling fast. Median sold price increaded 49.31% year over year.  This is more a reflection of the clearing of the short sale market in Brookland.  Last year there were many more short sales closing which dragged down the enitire Brookland Market.  Now that most of those houses have been sold (purchased mostly by investors who renovated them and put back on the market at higher prices) it makes sense that the Brookland real estate market is returning back to normal.
For Zipcode 20018 the percentage increase in Median Sold price are very similar:

In all of Brookland, Zipcodes 20018 and 20018 combined, 37 properties closed in October, ranging in prices from $220,000 to $699,900 and with an average of 23 days on market.

Two of the more interesting houses that sold in October include:
1233 Irving St NE that sold for $550,000 (listed for $530,000 by Michele Collison).  This will be an interesting one to watch as it is a very rare, large Victorian house, in a perfect location, on a large lot that was purchased by a local and respected developer who plans to renovate it and bring it back on the market early next year.

And 722 10th ST NE, which sold for $490,000 (listed for $475,000 by Andi Fleming). This is a record for a rowhouse in this section of Brookland by the Rhode Island Ave metro

 Lokking for a house in Brookland?  Contact us!  We are the local experts.

All sales data from MRIS. And some analysis datat from Rbintel.com