Cleveland Park is a neighborhood of great architectural diversity. There are small row houses that sell in the high $600's and historic mansions with price tags in the $4.5 million range. Some are on tiny lots, with just enough room for the house and a postage stamp garden. Others have expansive lawns and gardens. And so far this year, the demand has been for the smaller homes at a relatively low price point.
The list of homes currently for sale includes two in excess of $4,000,000. And they are bringing the averages up. The highest selling price year to date is lower than that, at $2,407,000.
Here are the figures:
Currently For Sale: 15 homes (current asking price)
Low: $715,000
High: $4,500,000
Average: $1,993,467
Under Contract: 8 homes (asking price at contract)
Low: $699,000
High: $2,950,000
Average: $1,343,438
Sold since 1/1/2009 15 homes sold (asking price at contract)
Low: $863,000 (selling price)
High: $2,407,000
Average: $1,122,800
Average original asking price for sold properties: $1,219,190
Patricia,
These should be very nice homes for these prices. You, guys, have quite a different market. And in this mortgage climate I would not be surprised to know that a lot of the offers are cash offers.
O.k. I want toknow how much that house in the photo would cost - I love it!
Jon, the two homes in the $4's are wonderful and both need a fair amount of renovating.
And Liz, it hasn't been on the market in a while, but it would probably go somewhere in the $4million range.