The D.C. Housing Market Is Back
You know how I know? Not the home values that have been rising for months, despite continuing decline in the rest of the country. Not the impossibly low vacancy rates. Rather, the fact that the most expensive house in D.C.–1824 R Street NW in Dupont Circle–just raised its price by half a million bucks.
The Gerace family bought it in 2003 for only $3.5 million, and–according to an owner comment on Zillow–put it through a $5.5 million renovation, for use as a bed and breakfast called the Artists Inn Residence. That doesn't quite add up to the current list price of $15.5 million, but hey, who am I to judge?