The DC Luxury Condo Market In December — While Temperatures Were Dropping, Sales Were Rising!

 Ritz Georgetown Image

Somerset House

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2013 closed out with strong sales on some of the finest penthouse properties on both sides of the Potomac.

Landmark Sales in Lavish Luxury Buildings in DC, Maryland and Virginia

One special property — Penthouse 1F at the Ritz-Carlton Georgetown sold for $5,200,000 after playing hard to get for 417 days on the market. The reduced price was down from $5,690,000. The 3,890 sq. ft. residence featured a 36-foot living room overlooking the Potomac and Georgetown Waterfront Park and included 10-foot ceilings, cherry and marble floors, and 3 bedrooms plus a den and 3½ baths.

At the other end of Wisconsin Avenue in Friendship Heights, an exquisite treetop condo with 3 bedrooms and 4½ baths in the Parc Somerset was listed for $4,950,000 and sold in just 14 days for $5,000,000.

And over in West End at 2501 Pennsylvania, a 3-bedroom 3½-bath penthouse sold for $2,850,000. This very special unit including the 750 square-foot private terrace with monumental views of the city.

What does this activity prove? Simply that properties at the top of the market are selling when buyers and sellers are properly motivated.

Highest Sales Prices – December, 2013

$5,200,000

Ritz-Carlton Georgetown

Georgetown

$5,000,000

Somerset House

Friendship Heights

$2,850,000

2501 Pennsylvania

West End

$1,814,000

Ritz-Carlton West End

West End

$1,400,000

Memorial Overlook

Arlington

$1,130,000

St Nicholas

Kalorama

Three New Owners Are Moving To The Watergate in Foggy Bottom.

And six buildings each scored two sales in December: City Vista, Madrigal Lofts, the Ritz-Carlton West End, Somerset House, The Artisan and Yale Steam Laundry.

Most Units Sold – December, 2013

3

Watergate

Foggy Bottom

2

City Vista

Madrigal Lofts

Ritz-Carton West End

Somerset House

The Artisan

Yale Steam Laundry

Mount Vernon Triangle

Mount Vernon Triangle

West End

Friendship Heights

Penn Quarter

Mount Vernon Triangle

Buyers Put Their Money Above List To Get What They Wanted!

In Mount Vernon Triangle, three buildings — City Vista, The Sonata and Madrigal Lofts — had sales over 100% of list price! In Logan Circle, Metropole and Matrix sold above list, as did Somerset House in Friendship Heights.

Highest List-To-Sales Ratio – December, 2013

104.72%

City Vista

Mount Vernon Triangle

104.18%

Metropole

Logan Circle

101.62%

Somerset House

Friendship Heights

101.39%

The Sonata

Mount Vernon Triangle

100.88%

Madrigal Lofts

Mount Vernon Triangle

100.57%

Matrix

Logan Circle

No Surprises for Highest Price Per Sq. Ft.

The Ritz-Carlton Georgetown, Somerset House and 2501 Pennsylvania topped the list.

Highest $ Per Sq. Ft. – December, 2013

$1,336.76

Ritz-Carlton Georgetown

Georgetown

$1,106.93

Somerset House

Friendship Heights

$1,101.24

2501 Pennsylvania

West End

$868.06

Metropole

Logan Circle

$822.31

Residences at Market Square

Penn Quarter

$788.97

Matrix

U Street Corridor

For more information about recent sales or to discuss buying or selling a luxury property in the Capital Region, contact Jeff Wilson at your convenience.

 

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