April 8, 2006


You never know what the guy next to you on an airplane paid for his ticket -- he could have paid full-fare, paid 90% or even got a 50% discount. With a condo, you used to be able to presume that the people who bought from the developer last paid the most, except for the odd unit or two that for whatever reason are undesirable. Not so in this market.

With prices dropping, people who buy now or even later probably will pay less on a per square foot basis (factoring in different floors and finishes) than someone who bought months ago. Case in point, Parker Flats at 2035 2nd St. NW in Eckington/Bloomingdale where prices now are lower than what they were when the units first came on the market, according to Bubblemeter.

Prices are falling too at the Beauregard at 2100 11th Street NW off of U Street. About 22 units out of a total of 45 have sold so far. (Not all units are available for sale at present).

Take unit unit #306, a 2 bedroom, 2 bath with a den, for instance. The price just dropped from $840,000 to $799,000. And unit #103, the price dropped from $625,000 to $599,000, and unit #207, the price fell from $789,000 to $719,000. A penthouse unit too -- the price fell from $989,000 to $959,000.

DCUNDERCONSTRUCTION IS UP again and worth checking out.

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