It can be a month with very little green around Washington – but this month is quite different!  This weekend is our launch of the first multi-family LEED Platinum (candidate) condo project in Washington DC.  If how you live and impact the environment is important to you, this is the project you should see.  Frankly, I have never seen so much insulation and during the recent cold snap, I could really tell a difference.  So if solar panels, rain barrels, low flow faucets, heat pump water heaters, and Energy Star get your blood pumping, visit us Sunday from 1-4pm.  www.petworthgreenbuilding.com 

You don’t have to have LEED certification to “green” your home.  We’ll also be offering tips on simple things you can do around your house that are designed to use less energy.  For example, do you have insulation in your attic?  I can’t tell you how many homes I visit in the DC area with zero insulation in the attic.  If you do nothing else, do that!

See you Sunday!

(You also can download this report as a .PDF.)

October saw 21 single-family homes sold, as well as two condos in the Petworth market.  The singe-family homes sold for 90 percent of their asking price, with the condos getting 94 percent of of their asking price.

The condo market is approaching a balanced supply, with 8.6 months supply currently on the market. While still a buyer’s market, five to seven months of supply typically is considered a market at equilibrium. The market for single-family homes, however, is a strong buyer’s market, with more than a one-year supply on the market.

To show how strong of a buyers’ market Petworth is, 31 percent of all single-family homes listed are short-sales, foreclosures, or estate sales. This situation will continue to keep pricing low in the market, but will provide great opportunities for first-time home buyers.

Housing product profile of the month:  Three bedroom, two-plus bathroom row home

This month we are looking at three bedroom row homes with two or more bathrooms.  Doing a search on all active listings, plus homes that sold in the past six months, we get an idea of what these homes are going for.

Twenty-eight three-bedroom row houses have sold in the past six months, with an average price of $356,205 and a maximum price of $499,900. Thirteen properties are under contract, ranging from $210,000 to $399,500 and averaging $298,000. Active listings range from $224,900 to $479,000 and average $341,994.

The average days-on-market for the sold units was 88 days, versus 148 days for the active listings.

For more information, contact me at ken@brandongreen.com or 202-318-1623 x4.