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Market Conditions in 20007 : Real Estate Advice

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Mon Aug 17, 2009
Courtney Poulos answered:
Greetings!

An excellent question! It can truly vary depending on the property, the finishes, etc. In general, new construction properties often sell for 10-20% more per square foot than it's resale competition, but based on the building itself, amenities, the location of the unit in the building, and the developer's incentive to sell, etc., sometimes new construction and resale can be quite comparable. Take 2516 Q St. NW, #C102, for example. It is currently listed for $599,000 and has 1025 sq. ft., per the listing. That's $584.39 per square foot. 2425 L St. NW, #734 is listed for $585,000 and has 833 sq. ft. That's $702.28 per sq. ft. The building is 3 years old. Then take 1140 23rd St. NW #902, built 24 years ago. A property there is currently active for $515,000 and claims 900 sq. ft. That's $572.22 per sq. ft.

If you would like me to send you over a list of active and recently sold properties in the West End, please send an email to courtney@reishmangroup.com-- I'd like to learn more about what you're looking for!
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