One Home Buyer Met the Asking Price... Plus $510,000

On July 18, a Georgetown home was put on the market for almost $3.5 million. Four days later, it was sold and put under contract for much higher than the asking price.

TTR Sotheby’s International Realty agent Alex Venditti was hired to sell the 5,000-square-foot home at 3043 P Street NW.

According to the Washington Business Journal, although there were four bidders, the one that offered $510,000 over the asking price to make it an even $4 million became the new owner. Venditti declined to give the buyer’s name but said the bidder had lost out on other deals before.

“The guy had seen so many houses he just did not want to play around or potentially lose again,” Venditti told the WBJ. “This was simply a matter of ‘I want it.’”

Read more about real estate in Georgetown.

The home was built in 1959 and is equipped with six bedrooms, four baths, a private garden, and a grand foyer, according Zillow.

The usual listed price increase is between three percent and seven percent, according to the WBJ. That is much lower when compared to what this buyer offered for the home.

TTR Sotheby’s reports that real estate in Georgetown is up 12.7 percent and the median sales price is up almost 4.5 percent.

Read more at the Washington Business Journal

Photo Credit: Zillow