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Foggy Bottom, Cathedral Heights: Where the Deals Are

  • December 8th 2009

by Mark Wellborn

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Who knew that Foggy Bottom was overflowing with good deals? Online real estate agency Redfin has posted a list of DC and (close-in) Maryland neighborhoods with the highest percentage of price reductions on residential properties last month. In a bit of a surprise, Foggy Bottom led the way with reductions on 70 percent of the area’s listings. Northeast’s Deanwood and neighboring Grant Park, Lincoln Heights, and Fairmont Heights (Maryland) were second, with 63 percent. Cathedral Heights was third for DC neighborhoods, with 56.5 percent.

Here is a look at the rest of the top ten. The chart includes MLS, FSBO and REO listings where the price was reduced at some point before leaving the market (either sold or removed) in the past 90 days.

Foggy Bottom, Cathedral Heights: Where the Deals Are: Figure 1

Redfin also calculated which neighborhoods had the lowest percentage of price reductions in the area. The DC neighborhoods where prices aren’t budging that much include Capitol Hill (23.7 percent of listing prices reduced), Hill East (27.8 percent), LeDroit Park (28.8 percent), and Friendship Heights/Tenleytown (30 percent).

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This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/foggy_bottom_cathedral_heights_where_the_deals_are/1584.

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