General Area in 20007>Question Details

Ed, Both Buyer and Seller in Washington

what is the difference between foxhall village burleith and cloistersin sq foot pricing?there is not much

Asked by Ed, Washington Fri May 30, 2008

for sale in the village
are prices going up more???

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Ed, while I also can't chime in on square footage/$$$$, I can tell you that prices here have held their own. I work primarily in the Georgetown, Burleith and Glover Park areas and we have seen both less days on market and less price reductions then the rest of the city and certaily the country. As my collegue stated you are going to have a hard time comparing property in Burleith and Foxhall Villiage because they are so diverse. You could get a good idea for proerties in the Hillendale, Cloisters or Westover, being that there is a standard layout with no real changes to structure. One other strategy is to consult tax records as this will at least give you an idea on "assessed" prices which you could then convert to price per sq ft.
0 votes Thank Flag Link Thu Sep 11, 2008
Dear Ed,

Not many agents like to answer $/SF questions, do they! That's understandable, since SF numbers around the District, (from tax records in particular), are notoriously inaccurate, and through law-suits, agents have been reticent to state them themselves. That's a shame, of course, since its usually the second question a buyer asks me about a house or condo!

Nonethelss, $/SF averages can be calculated, and are a quite useful means of making comparisons. This must ALWAYS be done between apples and apples, however, so a neighborhood average is a tough-call. It is easiest within a single condo building, (for obvious reasons), and then between very similar properties where full information about each is accurately available.

I use this measure as a 'first cut' at the time when I'm building an offer for a specific property. It's also part of what professional appraisers do in their work for lenders.

With respect to your question on Foxhall Village, Burleith and the Cloisters, I'd venture that figures on the Cloister town houses can be calculated quite easily, (because they're all of similar construction, built at the same time!), but a bit trickier for FVillage, and least practical for Burleith, where there is a wider variety of houses, (apples, oranges, peaches, a few watermelons~!)

Prices have been steady-to-up in the District all year! Where are they going? If I could answer that...

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0 votes Thank Flag Link Fri Aug 15, 2008
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