Real Estate Watch: Brookland Market Outlook From Abbott-Klar

For Sale Sign on IrvingAs most people probably suspect, Brookland continues on an upward trend of increased property values. We learned from this article in the Washington Business Journal that the median home price in Brookland has gone up 21%  since last year. In addition to renovations selling in the $800 – 900 thousand range, like this one, that recently sold for$910,000; there seems to be new construction everywhere you look. For example,  these townhomes as part of the Monroe Street Market development were just granted building permits  to begin construction and are already on the market for $812,890.

We caught up with Shemaya Klar, an agent from Brookland-based real state firm Abbott Klar and asked him for his take on the Brookland real estate market in 2015 and looking ahead. Here’s what he had to say:
With easy access to downtown via Metro or bike path, great variety in housing stock, large yards, the friendliest neighbors and ever increasing dining venues, Brookland continues to be one of the greatest places to live in DC.  It also remains a bargain compared to many other neighborhoods in DC.  Also, the large number of great DC charter schools in Ward 5 are significantly contributing to the desirability of Brookland.
Do you think home prices will plateau soon, or  will the neighborhood finally see a $1 million dollar home sale?
We observe prices trending upward, with the best presented  properties generating multiple offers and this will continue.  While the 1 million dollar mark remains elusive,  we are seeing more large houses sell in the 800’s and 900’s than ever before. But most importantly, Brookland remains a neighborhood where there are still many great options not just on the high end but also for the first time home buyers.
Thanks Shemaya! We will keep our eye on the market and pass along anything we find interesting.

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