Pat Kennedy - Your Washington, DC Real Estate Connection

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Washington, DC: What Can You Buy in Upper Northwest for Under $1 Million

If you want to buy a house in one of the popular neighborhoods in upper Northwest Washington, and if your price point is less than $1 million, you don't have a whole lot to choose from.  In fact, in the zip codes of 20008, 20015 and 20016, thre are a total of 27 homes for sale in your price range.

To make things even crazier, they are flying off the shelf, often with bloody bidding wars that escalate the prices to more than the people looking in this range can afford.

Here's how it breaks down:

American University Park:  there are only two properties in this neighborhood.  Both were listed today, and I'll eat my real estate license if they last more than a week.

Chevy Chase: there are 11 homes for sale in Chevy Chase.  Many of them are small, many need work, and there are some that have been around for longer than a week, opening up the possibility of buying sans bidding war. 

Forest Hills:  has 3 homes just under $1 million.  One is a cute bungalow that has been around three months.  The sellers are probably getting sick of keeping it spotless.  It could be an opportunity.

North Cleveland Park: there are five homes in this popular neighborhood.  They are all priced in the $800's and don't look bad at all.  

If you are looking for a home in one of these neighborhoods, you will need a good strategy for making an offer that will work.  I can help you with that. 

 

If you are planning a move to or from the Washington, DC metropolitan area, I can help.  I am licensed in DC, Maryland and Virginia.   Please email me at Housepat@mac.com or call 202-549-5167. 

Comment balloon 7 commentsPatricia Kennedy • May 30 2013 07:45PM

Comments

Pat, Great information for anyone who wants a home for under a million in DC. Wow, not many left is right! And you are the one to call.

And you are one smart (and fun) cookie!

Posted by Andrea Swiedler, Realtor, Southern Litchfield County CT (Berkshire Hathaway HomeServices New England Properties) over 7 years ago

Hi Pat, As I have seen the prices escalate in so many markets and interest rates heading up to 4% + with almost no inventory, in about a year from now, if the bond market crashes, we will see things slow down and we will have less demand. So I guess the old expression of "Make Hay While The Sun Shines" might be some sage advise about now. :-) 

Posted by William Johnson, Retired Real Estate Professional (Retired) over 7 years ago

Andrea, I guess a million bucks just doesn't get you that mansion with pillars anymore!

And William, I don't see it heading south any time in the immediate future, at least not in this market. 

Posted by Patricia Kennedy, Home in the Capital (RLAH Real Estate) over 7 years ago

Very nice report Patricia.  Very easy to read and understand and nothing but the facts madam.

Posted by Chris and Dick Dovorany, Broker/Associate at Premiere Plus Realty ( Homes for Sale in Naples, Bonita Springs and Estero, Florida) over 7 years ago

Patricia,

 Great report and I agree with William, and for buyers the time to buy is NOW!

Posted by Yolanda Cordova-Gilbert over 7 years ago

Patricia,  I don’t know your market but I know a market with low inventory. I’ll eat my real estate license as well if the two new listings in American University Park are available longer than one week.

Posted by Kathleen Daniels, Probate & Trust Specialist, Probate Real Estate (KD Realty - 408.972.1822) over 7 years ago

Pat - please, there will be no more HAT eating --- times are tough with the lack of inventory of real estate in many markets.  What's holding back sellers?   Is it there's no place to go - trade up or downsize.  It's certainly interesting(and more than just a bit frustrating) with so many more buyers out there than sellers.   

Posted by Michael Jacobs, Los Angeles Pasadena 818.516.4393 over 7 years ago

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