ResalesDistrict Of Columbia"s Kalorama Homes Selling In Hours, Say Realtors
Everyone knows the Washington, D.C. market is hot, but the area known as Kalorama Heights is particularly popular, say local Realtors, where homes are selling in a matter of hours.
"Kalorama is (loosely) bordered by Massachusetts Avenue and Dupont Circle on the South side, Connecticut Avenue and Adams Morgan on the East, and Rock Creek Park on the West," explains Realtor Ghislaine Boreel. "Kalorama is home to many stately embassies and private homes. It is also home to the Phillips Collection, a lovely small museum specializing in impressionist and contemporary art. Some of the most attractive apartment buildings in town are located there. Kalorama is a quiet enclave within walking distance of Dupont Circle and the shops of Connecticut Avenue."
Boreel suggests, "There are some extraordinary houses for sale in Kalorama, and it is a very elegant address. There is a fair amount of beautiful single-family houses for sale, priced in the millions, but in general they do need a bit of work. As Kalorama is a very desirable neighborhood, small apartments are often sold within hours or days of being listed. If one is interested in buying such an apartment I would suggest receiving a loan approval before even looking."
Explains Realtor Barry Bluefeld. "There are two main segments to Kalorama - one on each side of Connecticut Ave. On the western side is Kalorama Heights, five square blocks bounded on the south by R Street, on the west by Massachusetts Ave., and on the north by Potomac Pkwy, where it crosses under The Taft Bridge on Connecticut. Ave. The eastern section of Kalorama is between Connecticut Ave. and Adams Morgan three blocks east, and Calvert St. and Lanier Heights to the north, and Florida Ave. to the south.
"The two primary commercial areas are Connecticut Ave. and Adams Morgan on the east, with the rest being solidly residential. This area has the richest blend of architectural styles in the city combining to make a unique and impressive ambiance. The three main architectural styles are: English Arts and Crafts, Georgian Revival, and Mediterranean, including both Italian and Spanish."
About the market, Bluefeld says, "Currently, the absorption rate is 64 percent, demonstrating a strong seller"s market (over 35 percent). The prices are on a steep uptrend so far in 2004. In 2003, a 2 BR,1BA condo had an average sales price of $398,900 with a range from $279,000 to $599,900. For townhouses, the average sales price in 2003 was $739,082 which was a 97.27 percent ratio to the list price. So far, in 2004, townhouses have an average sales price of $1,005,083 - an increase of $266,001 or an amazing 36 percent, with a selling to listing ratio of 98.9 percent. Prices for townhouses so far this year, range from $289,000 to $2,399,000."
He instructs, "The origins of Kalorama are the early land grants of the mid-17th century. During the 40-year period from 1663-1703, 18 landowners acquired by grant or sale all of the land which became the District of Columbia. It was not until the turn of the century that urban development extended the city of Washington into and beyond the borders of this area. The streets are picturesque with rows of three and four-story dwellings and anchored by solid blocks of multi-family apartments.
"It is among the most distinguished residential examples of revival style architecture in the United States. A few of the notable buildings are: 1) Woodrow Wilson House- 2340 S Street, built in 1915 (open to the public) 2) The Spanish Steps and lion-head fountain at S. and 22nd St. 3) Textile Museum, 2310-2320 S. St.(open to the public) 4) The Lindens- 2401 Kalorama Rd, erected in Danvers Massachusetts in 1754 and moved to this site in 1935. 5) St. Margaret"s Church- 1820 Connecticut Ave. built 1895-1900. Tiffany windows and exposed roof trusses. 6) Charles Evans Hughes House (Chancery of Burma) 2223R St. 1907. He was 10th Justice of U.S. Supreme Court."
Continues Bluefeld, "Besides being located on the fringe of the Golden Triangle - the main part of the downtown business district - Kalorama is right next to Adams Morgan which is a great cultural and international attraction with its restaurants, night spots, and shops. One cannot tour this area without wanting to come back to find out more about the businesses and boutiques you will never find anywhere."
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