BROOKDALE HOME SALES


Information provided by Kathleen McElroy who lives on Brookdale Road.

Report of April 2, 2000
In the first quarter of 2000, there has been one settled sale in the Brookdale area:
4806 Dover Ct which sold for $400,000, reflecting an appreciation of just under 30% since August of 1997.

There are no houses for sale in our neighborhood and five under contract:

4725 River Rd, listed at $259,500 and on the market for 13 days
4804 Park Avenue listed at $349,500 and on the market for 9 days
5225 Baltimore Avenue listed at $450,000 and on the market for 5 days
     (this house had been on the market last year for 96 days)
4805 Dover Ct listed at $479,000 and on the market for 20 days
5327 Baltimore listed at $274,500 and on the market for 0 days
The market is very brisk and there is enormous demand for houses in this area. Clearly most of the appreciation has occurred since 1997. Park, Baltimore and 4805 Dover have sold once or twice in this decade and show solid appreciation.

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Report of December 31, 1999
Brookdale sale prices in 1999 have increased between ten and fifteen percent over the prices obtained in 1998. Sales in 1998 increased about ten percent above those of 1997. These figures are approximate since too many fields in the computer make it hard to track all of the sales; but, in evaluating houses prior to putting them on the market, this rule of thumb has been a good check.

There were 17 sales in our area last year ranging in price from $239,500 to $610,000. The average sale price was $399,332. This sale price may include credits written into the contract to allow the purchasers to finance some of their closing costs. The average time on the market was 32 days if you include two houses that took over three months to sell. Excluding the latter, the average time on the market was 10 days and the median sale price was $370,000.

    5321 Willard Avenue  239,500
    4723 River Road      275,000
    5014 Dalton Road     322,000
    4627 River Road      329,900
    4704 Dover Road      359,500
    5328 Saratoga Avenue 370,000
    4802 Dover Road      370,000
    4600 Overbrook Road  372,000
    4724 Merivale Road   379,000
    4859 Park Avenue     379,000
    4705 Overbrook Road  385,000
    4605 Overbrook Road  395,000
    5205 Murray Road     445,000
    4719 River Road      490,000
    4701 Merivale Road   532,750
    4508 Dalton Road     535,000
    5015 Westport Road   610,000

A few years ago, I was helping someone in the neighborhood determine the basis to be used in reporting capital gains on a sale in the neighborhood. I had to pull out the sales by hand from the old Lusk books. You will be amused to see that in the years 1970 to 1976, the sales ranged from $39,000 to $79,950 for one of the Cooper Lightbown colonials. One of them sold in 1970 for $45,000 and resold in 1978 for $114,000. Another sold in 1973 for $65,330 and resold in 1974 for $79,950. And yet another sold in 1974 for $67,500 and resold in 1977 for $112,000.

One of the most frequently asked questions pertains to the impact of the development of Friendship Heights on our neighborhood. The impact will vary at the personal level. We all like the almost small town atmosphere of Brookdale. That will diminish. But Brookdale will remain attractive because of the increased conveniences that the development of Friendship Heights will bring. It should not diminish the market value of our homes.


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