Pat Kennedy - Your Washington, DC Real Estate Connection

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Posh Washington: Homes For Sale In Wesley Heights

Posh Washington: Homes For Sale In Wesley Heights

Once years ago, I was showing houses in Wesley Heights, one of my favorite Washington neighborhoods.  After going through about three of them, the husband said, "Um, Pat, if we buy one of these places we'll have to hire a butler!"

Well, maybe.  

The home on the right belonged to Richard Nixon when he was Eisenhower's Vice President.  If he didn't have a butler, it had plenty of room for Secret Service agents!

Wesley Heights is a neighborhood nestled between New Mexico Avenue and Foxhall Road with many stately homes, some abutting Glover Archibald Park.  (And in this report, I am not including the townhouse developments east of New Mexico)

There are currently eight homes listed for sale (click here for the details and virtual tours).  They range in price from $1,095,000 for a home that is being sold in under court order in a bankruptcy proceeding to a high of $7,998,000 for a large stone home where you might indeed need a butler.  But my very favorite is a wonderful restored home on a huge lot that belonged to the late Art Buchwald.  

There are three homes that are under contract, pending settlement, with a low of $1,850,000 to a high of $8,000,000.

There have been fewer settled transaction so far this year, making it hard to take away any clear trends.  Here are the numbers for the year to date for 2008 to 2009.

                               2008                2009    
Number Sold               7                       4
Average List Price   $2,307,142     $1,925,000
Average Sold Price  $2,055,714     $1,850,000
Median List Price    $1,495,000      $1,395,000
Median Sold Price   $1,450,000     $1,300,000

But do these show that prices are falling in this neighborhood?  Not necessarily.

During any period, Wesley Heights is a neighborhood with relatively few sales in a wide price range, with huge variations in size and condition. Unlike 2008, this year, most of the sales were of either smaller homes or properties that needed major renovations.  And these are certainly factors that impact the average and median prices.   And, when we revisit these numbers in a month, there will be another settlement of an $8 million dollar property that will skew the numbers.

All over the city, we are seeing a slowing of sales for properties over about $2 million, making this an interesting time for people who are considering a purchase of a home in this area.  And maybe they will throw in the history for free if you decide to purchase Art Buchwald's home!

If you would like more information about homes in Wesley Heights or other fine Washington neighborhoods, please call or email me.

 

 

 

 

Comment balloon 8 commentsPatricia Kennedy • August 01 2009 10:32AM

Comments

Pat - sounds like a wonderful area to live if you have the budget. I remember driving through the area once years ago and being very impressed.

Jeff

Posted by Jeff Dowler, CRS, The Southern California Relocation Dude (eXp Realty of California) almost 11 years ago

Pat, very cool. Such energy in DC, and history too! Great post.

Posted by Andrea Swiedler, Realtor, Southern Litchfield County CT (Berkshire Hathaway HomeServices New England Properties) almost 11 years ago

Pat --- love this post --- you make such a good point about the prices not necessarily falling --

Mama Liz's Signature

Posted by Liz Loadholt, Realtor--Broker-in-charge - Trainer--Relocation Director Covering SC (Liz Loadholt- AgentOwned Realty- Covering SC) almost 11 years ago

Jeff, some of these places are amazing.  I now read about the Checker's speech and think of the Nixon place, which was just spectacular - and unrenovated!  It still had Pat's kitchen!  Um, not mine, but Pat Nixon's.  If she had to wear a cloth coat it was because thier mortgage must have been enormous.

Andrea, that's what makes working here so much fun.

And Liz, yeah!  We really do have to look beyond the basic numbers.  So often, they are pretty meaningless in raw form.

Posted by Patricia Kennedy, Home in the Capital (Redfin) almost 11 years ago

Pat:  Wish I had something in this price range to sell!  What a gorgeous home.  I hope you find a buyer for this.

Posted by Chris Ann Cleland, Associate Broker, Bristow, VA (Long and Foster REALTORS®, Gainesville, VA) almost 11 years ago

When some of these posh homes were built, my grandmother snipped ads out of The Evening Star and The Washington Post and saved them in a book.  Several years ago I had them mounted and framed to hang in the conerence room of the title company I owned.  Now they're all in a box at my daughter's house in Texas because she hopes to hang them somewhere someday.  I've often wondered... how much do you think the current owners would pay to have one of these?  LOL.

Posted by Margaret Woda, Maryland Real Estate & Military Relocation (Long & Foster Real Estate, Inc.) almost 11 years ago

Chris Ann, actually, Nixon's old house isn't for sale.  My old company listed it a couple of years ago.  It took forever to sell, and I guess the historic thing wasn't the same as if JFK or someone had lived there!  And right now, I thank my lucky stars for listings under $500K that people might actually buy!

And Margaret, I'd love to see them!  I'm sure the current owners would pay dearly!

Posted by Patricia Kennedy, Home in the Capital (Redfin) almost 11 years ago

Pat you always have such interesting properties to feature, it must be wonderful living in such a historic area.

Posted by Jennifer Fivelsdal, Mid Hudson Valley real estate connection ( JFIVE Home Realty LLC | 845-758-6842|162 Deer Run Rd Red Hook NY 12571) almost 11 years ago

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