Craziest Real Estate Transaction of 2022: 16 Offers, $740,000 Above Asking

• December 19th 2022

by UrbanTurf Staff

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It's that time of year again when UrbanTurf reflects on some of the DC area's most interesting real estate topics from the last 12 months. This week, we refresh your memory on some of the best, most intriguing and most peculiar things we came across throughout 2022. Enjoy.

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For now, the frenzied pace of the DC-area housing market is a thing of the past, as a world of high interest rates has put the brakes on the housing search for many buyers. 

However, before rates began their upward trajectory earlier this year, homes were still attracting multiple offers and escalating well above list price. And there was one transaction in particular that stood out to UrbanTurf. 

In May, we featured a five-bedroom Chevy Chase home that has interesting amenities such as a Tesla charging station and a media room in the fully finished basement, as well as an owner's suite with a walk-in closet and a sitting area. A screened porch looked out onto a backyard featuring a large lawn with stonework and established trees. 

Hard to know if it was this relatively complete package or something else, but the interest in the house was overwhelming. 

"We had 84 showings and 16 contracts," listing agent Melissa Estridge told UrbanTurf. "The home was very special, but we too were surprised at the activity and outcome."

The most surprising component of the transaction may have been the final sales price. With 16 offers, the home sold for $740,000 above its original $1.5 million asking price. 

Photo courtesy TruPlace 

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/craziest_real_estate_transaction_of_2022_16_offers_740000_above_asking/20433.