Wednesday, November 06, 2013

Most expensive home in Congress Heights is $500k LESS than DC average

Remind me again why Ward 8 needs more "affordable" housing?!!!!

Just posted by Michael Neibauer of the Washington Business Journal,

Average D.C. home sold for more than $800K in September

"The average selling price of a single family home in D.C. in September was $809,843, up $149,527 from a year ago — a 22 percent increase, according to the Office of the Chief Financial Officer. It appears to be the first time the number has topped $800,000, a crazy milestone of sorts.
The median price for a single family home still hovers around $600,000. Nearly 300 homes traded hands in September, and the total number of sales for the year is up 11.7 percent. So houses are selling, and at higher prices than ever before.
Condo sales are up, too, 25 percent for the year. The average sales price over the previous 12 months was $447,827, up 4.2 percent."
And in case you were wondering as of today, according to Remax,  this is the most expensive single family home for sale in 20032

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Anonymous said...

To answer your question: the politicians to get re-elected. Nothing else.

Whitney Hubbard said...

EXACTLY! Can we tag some councilmen in the post?!?! AMEN!Read my lips: "NO NEW 'AFFORDABLE' (read Section 8) HOUSING EST OF THE RIVER!" WE DON"T NEED IT!

Anonymous said...

I guess the question for me is why is a 800K house a good thing in any neighborhood? How many people do you think can afford such a house? I live in Ward 8 and I am pleased with my 250K townhome; 3 bedrooms 3.5 baths.Maybe insead of attempting to compare ward 8 with the other Wards, it would be beneficial to identify the type of character, aura, etc we want our ward to present. And yes "affordable housing" has to be part of the equation. I consider my home affordable housing and I have a mortgage

Anonymous said...

sorry, but i just don't understand how your blog post relates to the need or lack of need of affordable housing in ward 8? as soon as the city begins to really focus its efforts EoR, the prices will rise here like they have done everywhere else. and then those college grads or young professionals won't be able to afford to live here either.

Anonymous said...

I really appreciate that someone points out the differences in the economic growth that other parts of the city is having compared to east of the river. Our homes values are no were near what is happening across the city and if you bought in the years before the economic downturn your property value is most likely still underwater while you read reports about record number sell prices. I live in the congress heights area and although I don't want it to be h street or adams morgan we should have some type of business district, somewhere to shop, eat and drink. Maybe just maybe we could use these community centers for community events. If you have to jump in your car to head out to md for everything what really is the point you could just move to md. The same townhouse of 250k would be a single family and you won't even have to search for parking.

Chris Miller said...

Lets not be too quick to write off "affordable" housing as a catalyst for economic development east of the river. Affordable is a vague term that lumps in everything from housing affordable to median incomes all the way down to section 8. A lot of the development in places like Logan Circle started because ppl couldn't afford to live in DuPont/Foggy/Gtown but wanted affordable city living. While its frustrating to watch other parts of the city develop at a much faster pace, just the spillover affect from Navy Yard will eventually lead to more development over there. One/two metro stop(s) from everything Forrest City et al are putting over there isn't a bad position to be in as development spreads east.

My biggest concern is that besides your blog there doesn't seem to be many voices out there pushing for more economic development in Wards 7 & 8. Occasionally you'll see a WCP headline on something proposed for over there and then it disappears into a black hole never to be discussed again. What's happening with Poplar Point? What about that development at Congress Heights metro? Any updates on what Four Points is doing? I see that Chapman is back on the HPRB agenda in Dec for a revised proposal of Cedar Hill Flats. What's going on with that? Why isn't anybody harassing the mayor and DHCD office on releasing the RFP on the academic institution for Saint Elizabeth East? Where is the ANC's online presence? Pull up the ANC 1a and 8a websites and compare/contrast the difference in information.

Just some thoughts from someone moving over there in the near future.

h st ll said...

Interesting comments. Both sides make good points.