Real Estate Watch – Brookland Spring/Summer Outlook From Abbott-Klar

For Sale Sign on IrvingIt has been a long time since we have posted anything about real estate. As 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 expected tax revenue increases based on escalating home values across DC were third highest in Brookland, at a rate increase of 16.69%.  We also recently learned from Urban Turf that the Chancellor’s Row development, just over the tracks, is over 90% sold, with only 20 units left. 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 2013 and looking ahead. Here’s what he had to say:

The Brookland real estate market remains extremely strong and desirable. Our ‘little town’ in the city has been discovered! 2013 was a record year for Brookland with housing prices increasing by over 13% to an average sales price of $480,473 – a five year high!

In 2013, 93 houses sold in Brookland (up from 84 in 2012). A few exceptional homes, all listed by Abbott Klar Real Estate Group, including 3714 13th Street for $957,983, 1335 Lawrence Street for $790,000, and of course the Round House at 1001 Irving Street for $760,000 helped pull that number higher

2014 will be a great year for the Brookland real estate market and will be the year we see the first million dollar sale in Brookland. The spring market will bring much needed inventory and a slightly slower pace of growth in prices.

Even with such growth, Brookland still remains affordable relative to other desirable neighborhoods in DC.

Thanks Shemaya! Lastly, we thought readers would like to see  some examples of these higher-end recent sales:

  • This 4 bedroom, 3.5 bath  home at 1217 Upshur NE sold for $672,500
  • Another 4 bedroom, 3.5 bath home, this one a rowhouse at 3404 15th Street NE sold for $650, 750
  • 1333 Lawrence Street NE, a 4 bedroom, 2 bath home  sold for $575,000
  • 3008 12th Street NE, a row house with 4 bedrooms and 3.5 baths sold for $573,000

Welcome new neighbors!

2 thoughts on “Real Estate Watch – Brookland Spring/Summer Outlook From Abbott-Klar”

  1. I have pretty tough feelings about the rise in prices. As a Brookland homeowner, this provides me and my family with financial security. However, I love my neighborhood, and love referring my friends to move here. A good friend moved just 2 blocks away. But with this trend, it is becoming difficult for most people I know to afford to come here. Though, many of them laughed when I wanted to move to Brookland, now they all want to follow!!

  2. I’m impressed, I have to admit. Rarely do I encounter a blog that’s both educative and entertaining, and without a doubt, you’ve hit the nail on the head. The problem is an issue that too few folks are speaking intelligently about. I’m very happy I found this during my hunt for something concerning this.

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