Just when you think the housing market is starting to slow down a tad, something like this happens.
Washingtonian Magazine reports that a house that recently sold in Washington, DC sold for $800,000 OVER the original listing price.
The house, a brick Colonial, is located in American University Park. It was originally listed for $1,850,000 by Washington Fine Properties. The agent, Muffin Lynham, says that the initial price was right around what other nearby properties had recently sold for.
After a packed open house in January, the house had 16 offers. It closed this week for a whopping $2,650,000.
The house hadn't been on the market in 57 years but Lynham offered some insight as to why the price might have skyrocketed.
"Over the years, they expanded it, they did upgrades, they improved the kitchen, they had a beautiful family room, and they had a swimming pool. And I think since the pandemic, people in Washington have really, really sought outdoor space."