on Wednesday, May 24th, 2017 at 10:43am.
Real estate trends in Petworth, including home prices, architecture and walkability.
Petworth real estate is trending upwards. Trends are showing a large increase of around $35,000, or five percent. Price per square foot of homes fell to $450, down just nine dollars. One bedroom homes will cost around $336,000 and larger four bedroom properties are trending at around $760,000.
First-time home buyers are attracted to Petworth, as it tends to skew younger residents, with the median age being 37. Its median income is around $56,000 with condos and townhomes making up about 33 percent of the neighborhood.
One bedroom condos and co-ops are growing in this vibrant neighborhood. There’s been a gradual increase of about 29 percent. Condos with one bedroom were going for $304,000 in 2016.
According to The Washington Post, walkable neighborhoods are still very hot in D.C. and Petworth is one of them. Urbanization is a hot term in the D.C. area, with young families staying in the city longer and older individuals moving back into the city, opting for walkable neighborhoods.
The New York Times referred to Petworth as “a place of porches.” The article mentions residential buildings that recently popped up, like the Swift Petworth, that has a Safeway underneath it as its base. There’s also an eclectic mix of retail and restaurants, including “the block,” a booming section of Upshur St. between 8th and 9th Streets with Japanese and Latin restaurants, clothing shops and more.
Petworth is changing day to day, and recent developments and housing have proved to be quite exciting for the area.
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INCREDIBLE DEVELOPMENT OPPORTUNITY ON KENNEDY STREET! Two MU-4 lots in an OPPORTUNITY ZONE at 501 and 503 Kennedy St NW with a total of 4632 sq ft lot size, up to 13,896 sq ft allowed above ground, are available in the vibrant and dynamic Kennedy Street corridor. Qualified investments may have all future gain TAX-FREE using the new tax laws; consult your tax advisor. Current sale prices per square foot are $450-550, so do the math-- there is up
Great opportunity to purchase an old farm style house with an adjoining lot for a total of 4441 sq ft of land with driveway access off of 8th Street and literally 1/2 block to the metro! Initial plans for 3 twnhse style condos buildings with 2 1800+ sq ft duplexes in each building for a total of 6 units! Call me with questions and or details
Investment opportunity for multi-unit building in the HOT Georgia Ave corridor. 3 units, 2 rented and 1 vacant. Rents are $7k++ per month. Live in the basement and have your mortgage basically covered, or rent out and have positive cash flow. Photos are of the 3 bedroom 1 bath basement apartment. Could be used as residential or commercial. Spacious living room, separate dining room, updated kitchen . Tucked back just off Georgia Ave, but close
Become the owner of this magnificent home just featured in DC's UrbanTurf Magazine...Stylish, sophisticated & gorgeously redeveloped down to the studs, by Washington DC's own, longtime developer, Bridge Management Holdings, Inc. Live & entertain graciously thanks to this well thought out open floor plan. They say the kitchen is the heart of the house - and it couldn't be truer here! Spotlighting a gourmet kitchen with a commercial gas
Home Sweet Home!!! Bring your pickiest buyers. This 5 Bedroom 3 1/2 Bath modern stunner, has been beautifully remodeled with attention to every detail. Enter into an open floor plan drenched with natural and recessed lighting throughout. Living/Family Room spotlights a wood accent wall with electric fire place and tray ceilings. Leading into an immaculate kitchen designed for entertaining. Samsung "top of the line" stainless steel
I am pleased to present this lovely and rare, single family, detached Federal-style home on a quiet street in Petworth proper, 3 blocks from the Metro. A welcoming front porch invites you into this recently fully renovated, 4 bedroom, 3.5 bathroom property. The first floor offers a modern kitchen with breakfast bar and stainless steel appliances that opens to the family room with gas fireplace and handsome built-ins. There~s also a formal dining
Open House March 14th 12-2PM & March 15th - 1-3PM. Welcome to 1213 Emerson Street! This modern farmhouse style home with 4 levels and over 3,000 sq. ft. sits on a large premium corner lot. It features a classic front porch which overlooks the park just across the street. Four levels of light filled windows will ensure a bright start to your mornings. Exceptional details include open gourmet kitchen, main level office/flex space. powder
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