Chevy Chase DC:

  • Today we are visiting the DC zip code 20015. Which includes the Chevy Chase, Upper Chevy Chase, Barnaby Woods, Hawthorne and Friendship Heights neighborhoods.
  • Back in the 1880’s and 1890’s some land speculators started buying up farmland so they could develop a residential suburb around a future Connecticut Avenue streetcar system. Those farms became the villages of Chevy Chase in Maryland and the neighborhood of Chevy Chase in DC and those speculators would be known as the Chevy Chase Land Company.
  • Connecticut Avenue is still the main drag for the area with local shops, restaurants, and a classic theater.
  • The real estate blog UrbanTurf in April estimated single family detached homes with four or more bedrooms in the area increased in price 39% in the past year.

 

Market Data:

Now for the sales, two hundred one (201) homes sold here this past year for an average sales price of $1,354,087 and with an average of ten (10) days on the market. That’s right ten days. Talk about a hyper-fast market.

The highest of these sales was for this 5,600 sf new build five (5) bedroom, four (4) full and one (1) half bath home with an almost quarter acre lot. The home was built in a collaboration between two local builders, sold before completion and sold for $2,795,000.

Now for Condos and Co-Ops. There were forty-three (43) units to trade this past year for an average sales price of $490K with an average of fifty-two (52) days on the market.  

The highest sales price for an apartment this past year for the area was a fabulous 1,977 sf, two (2) bed, two (2) full and one (1) bath unit, here at the Chase Point condo built by PN Hoffman in 2007. The unit sold for $1,595,000 or $798 psf.