Washington DC Condos & Real Estate, U Street, Penn Quarter, Capitol Hill Rowhouse & MLS, Remax

Washington DC real estate and Washington DC homes for sale have been a whirlwind of redevelopment the past 5 years.  Some neighborhoods with negative reputations have become transformed into ultra-hip villages where one can hardly squeeze in with $300,000 for a one bedroom condo.  Large portions of DC, often blocks long and no longer recognizable as many blocks of Washington DC have been torn down and replaced with many brand new buildings.   This has been going on for several years and the question is what is driving Washington DC MLS to appreciate and be revitalized?  The answer is jobs, jobs, jobs. Just in the first 2 months of the 3rd quarter of 2005, nearly 10,000 jobs were added to the payrolls of Washington DC real estate.  The unemployment rate for DC fell to 5.9% in the 4th quarter of 2005. 

This type of job growth has been going on several years and solid growth in expected for new jobs in coming years.  Thus the demand for Washington DC MLS and DC homes for sale and condo has been tremendous causing many builders and investors to rise up and meet that need.  It’s the American way :)  For a Washington DC realtor for that employs cutting edge cyber tools, you're at the right website.

Condos in Washington DC MLS, Penn Quarter, U Street Corridor, Logan City, Dupont Circle Capitol Hill, Columbia Heights and Rowhouse Real Estate

Most of the home neighborhoods experienced strong appreciation the past year.  The appreciation for various zip codes varied from 11-30%.  The hottest areas of DC real estate were the U Street Corridor condos, Penn Quarter, Logan, Old City #1 and Columbia Heights.  Many luxury DC condos and renovations have been occurring in these neighborhoods where old rowhouses are transformed into utlra-comtemporary styled 1-2 bedroom condos on each level.  The Penn Quarter condos & U Street Corridor of 20005 appreciated 29.11% in 2005. 

More recently in 2006 the median sold price for Washington DC home prices decreased 3% since the 2005 peak.  And in 2007 the latest data is illustrated by the graph:

Median sold price went down another couple of percent in 2007, but more DC transactions occurred than in 2006.  Judging from the March value of no change in median sales price the market may have bottomed out and is holding steady.  Time will tell.  The local real estate market will continue to remain strong due to job growth, although the days of rapid appreciation are over.  Kudos to those who got in early enough to capitalize in some of the on the edge neighborhoods that have now been transformed.  To a large degree these risk takes helped revitalize large sections of  MLS Washington DC.  Dupont Circle is also a "hot" neighborhood, but most of the new construction ultra modern condos have been constructed in the U Street Corridor condos, Old City #1, Penn Quarter condos, Logan Circle condos and Columbia Heights.

Columbia Heights in  DC went up 22.68% from last year.  Will these trends last?  Read my article on my observations on the market and 2006.  If you need an excellent real estate agent Washington DC, then you're in the right place.

Capitol Hill is another popular section of DC that offers numerous advantages such as walking to 2 metros (subways), jogging/biking up to "the mall", quick access to the Eastern Market with its famous farmer's market and small artsy shops/businesses.  Perhaps the best feature of Capitol Hill is its historicity and the beautiful rowhouses that come with it.  Capitol Hill definitely has a charm factor to it.

DC Condos and MLS, Real Estate in Penn Quarter, Dupont Circle and U Street, Capitol Hill Rowhouses

DC area is a dynamic & thriving area that is literally the capitol of the world.  I always say the whole world is right here.  It may be the most diverse city in the world along with New York City.  Any type of ethnic food is here.  The intense transformation of much of Washington DC real estate with revitalized neighborhoods is exciting.  The new stadium in the District of Columbia for the new baseball team the Nationals, figures to bring in $200,000,000 per year in revenue which will continue this trend.  If you want a good real estate agent Washington DC, then take advantage of the professionalism of Remax Washington DC.  For random photos of condos in DC try Flickr.com for Washington DC condos.

Another great and historic part of DC is Georgetown real estate.  It was settled in 1696 by Europeans and has many well known historical figures in its neighborhoods such as Francis Scott Keys and President John F. Kennedy.  After the revolution Georgetown became independent and was called Georgetown, DC.  The architecture in Georgetown is breathtaking.  The rowhouses and churches drip with charm and one wonders why don't they build rowhouses and townhoues like that anymore in Capitol Hill, Georgetown, etc.  Georgetown didn't become part of DC until 1871.  To view answer.com's entry on Georgetown click here.