Predictions for 2024 D.C. real estate market – Washington Blade

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‘Tis the season for giving. You have purchased, wrapped, and possibly delivered the annual endowment of socks and underwear. You have perused your children’s Christmas wish list and fought the Battle of Target. You have guessed about sizes or taste in literature, knowing that Amazon honors returns. You have armed yourself with a plethora of gift cards, but what do you get for that person who has everything? 

How about some real estate?


Buy/sell, rent/lease residential &
commercials real estate properties.

Granted, it won’t fit down the chimney with Santa and inventory in the DMV has been limited for far too long, but we’re getting ready to turn a corner into 2024. Our military families are finally on the move again. The FBI has identified a location in Prince George’s County for a new office building, which, when built, may prompt some employees who live in Virginia to shift their residences to Maryland. 

You can count on both Amazon and businesses along the Dulles technology corridor to shift personnel and we may also be seeing some new faces on the Hill as political campaigns ramp up. What’s more, the Federal Reserve Board didn’t raise interest rates this quarter and may be looking to lower them in 2024.

So, let’s start small. You can purchase a surface parking space in 16th Street Heights for $12,000, recently reduced from $15,000. Alternatively, you can buy a two-car, tandem, covered spot for $85,000, provided you live at The Gateway Georgetown Condominium.

Interested in getting in on the ground floor of affordable housing? Then Congress Heights may fit the bill. There, you can get a 725-square-foot,  two-bedroom condo with original parquet floors for $69,000, or choose a detached, 3-level, 3-bedroom, 2 bath Cape Cod in need of a basic facelift for only $299,000. Its kitchen awaits your design choices for renovation.

Would you like a pied à terre near the Kennedy Center instead? There’s a 696-square-foot, one-bedroom condo available in Foggy Bottom for less than $400,000. Need something closer to the Hill? Treat yourself to a slightly smaller, one-bedroom condominium along the H Street Corridor close to numerous restaurants and the Whole Foods grocery store for only $166,000 and change. 

If you need a home to rent out to students at Georgetown and George Washington Universities, then the possibilities include 3-4-bedroom rowhouses in Georgetown, priced from $2-2.5 million. If you’d rather provide shared housing for congressional representatives, a 6-bedroom, 3.5 bath beauty on the SE Hill can be had for only $1.8 million. Cocaine and orgies are extra.

If being a multi-unit landlord is your goal, Congress Heights comes up again, with several 4-unit buildings available between $600,000 and $700,000. On the high end, you can choose a mint condition, 4000 SF quadraplex near Whole Foods in Logan Circle for under $2.8 million. 

(NOTE: It seems that if your neighborhood has a Whole Foods grocery, then it has hit the big time in popularity and often, in price. It used to be that simply having a Starbucks within a block or two garnered the same cachet.)

Now, let’s talk luxury. If you hate yard work, there’s a 2,000-square-foot condominium with sweeping river views in Georgetown, renovated with every conceivable amenity and technological update, for just under $4.5 million. Not enough glitz and glam? You can also Put on the Ritz in Georgetown if you purchase a 6,400-square-foot, 5-bedroom, 5+ baths condo overlooking the Potomac for a little more than $11 million. 

If you need something a bit more financially reserved, the SW quadrant of D.C. features 4,400 square feet of new construction in 3-bedroom condo with multiple bathrooms and walls of glass overlooking the Washington Channel in the $8 million range. Think of all the money you’ll save on parking when dining at The Wharf.

If you’re pulling out all the stops, check out the Berkley neighborhood for the most expensive and expansive home in D.C. For only $32 million, you can enjoy more than 16,000 square feet of luxury, a 2-story sports court with spa, a cinema room, or choose a bottle from the floor-to-ceiling, temperature-controlled wine display for your next fundraiser. Even the grounds are a tribute to sculpture and precision.

But unless Santa Claus brings you a stocking full of gold bars, James M. Goode’s coffee table book, Best Addresses ($49.67), or his follow-up, Capital Houses ($157.99) are gift options that bring us back to real estate reality for the time being. These coffee table books may not have the same distinction as the homes described and photographed within, but at least they will fit down the chimney.

Valerie M. Blake is a licensed Associate Broker in D.C., Maryland, and Virginia with RLAH Real Estate / @properties. Call or text her at 202-246-8602, email her via DCHomeQuest.com, or follow her on Facebook at TheRealst8ofAffairs.

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