The January DC Luxury Penthouse Market – Oooh, Baby, It’s Hot Inside!

As to be expected, overall volume was down in January throughout the Capital Region, but enthusiastic buyers and motivated sellers found middle ground. In spectacular fashion, prices in the market were sizzling — Somerset House, Gallery Place, Lot 33 and 555 Mass earned recognition in all four categories of Life At The Top market stats!

Five Of The Top Six Sold At Full Price Or Above!

Somerset HouseFor highest sales prices in January, Somerset House in Friendship Heights topped the chart with a luscious 1 Bedroom, 2 Bath Penthouse that commanded the full listing price of $1,500,000. Next came 1661 Crescent Place, that “Most Grande” It Building in Adams Morgan where aggressive buyers added $25,000+ to the asking price and paid $625,000 for a 2 Bedroom, 2 Bath condo. And in Chinatown, Gallery Place unit 1026, a 2 Bedroom 2 Bath residence sold for full price at $609,000!

Highest Sales Prices – January, 2014
Sales Price
Building
Neighborhood
$1,500,000
Somerset House
Friendship Heights
$625,000
1661 Crescent Place
Adams Morgan
$609,000
Gallery Place
Chinatown
$535,000
Lot 33
Adams Morgan
$525,000
Matrix
Logan Circle
$480,000
555 Mass
Mt. Vernon

City Vista And Gallery Place Sold The Most Units With Two Each!

City VistaMt. Vernon Triangle’s City Vista and Chinatown’s Gallery Place led January’s stats for most sales. 1661 Crescent Place, 555 Mass, Atrium, Lot 33, Matrix and Somerset House sold 1 each.

Most Units Sold – January, 2014
Units Sold
Building
Neighborhood
2
City Vista
Mt. Vernon
Gallery Place
Chinatown
 1
1661 Crescent Place
Adams Morgan
555 Mass
Mt. Vernon
Atrium
Arlington
Lot 33
Adams Morgan
Matrix
Logan Circle
Somerset House
Friendship Heights

 

In Adams Morgan, 1661 Crescent Place Sold For More Than $25,000 Asking!

1661 Crescent PlaceFull price and above was the rule in January for buyers who would not settle.

 

Highest List-To-Sales Ratio – January, 2014
List-To-Sales Ratio
Building
Neighborhood
104.25%
1661 Crescent Place
Adams Morgan
101.05%
555 Mass
Mt. Vernon
100.02%
City Vista
Mt. Vernon
100.00%
Gallery Place
Chinatown
100.00%
Lot 33
Adams Morgan
100.00%
Somerset House
Friendship Heights

 

Somerset House Topped Two Categories Including Highest Dollar Per Sq. Ft.

Somerset House - Roof DeckIn Friendship Heights, this Somerset House 1 Bedroom, 2 Bath Penthouse commanded $905.25 for every one of its luxurious 1,657 square feet!

 

Highest $ Per Sq. Ft. – January, 2014
$/Sq. Ft.
Building
Neighborhood
$905.25
Somerset House
Friendship Heights
$668.75
Lot 33
Adams Morgan
$657.07
Matrix
Logan Circle
$609.10
City Vista
Mt. Vernon
$591.86
555 Mass
Mt. Vernon
$553.64
Gallery Place
Chinatown

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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