As a resident of the DC area for over 25 years and considerable real estate expertise, Roya Hakimzadeh is completely tuned into the city’s luxury real estate market. We heard from her about the perks of living in Georgetown, where the current market stands, and more!
What are some of the perks of living in Georgetown?
Georgetown is a social, cultural and commercial center with international flare. It’s like a city within a city and home to so many great restaurants, shops and Georgetown University (a short walk to George Washington University) It’s a very walkable, bikeable neighborhood and just a short drive to National Airport, Union Station and HQ2.
For someone looking into the area for the first time, what are a couple of your favorite restaurants and things to do in the neighborhood?
I think D.C. tends to get trends a few months after New York and LA (gourmet doughnuts, I lived in Georgetown for many years. There are so many good restaurants to choose from! I like Leopold’s Cafe in Caddie’s Alley for lunch on a sunny day when I can sit outside. Peacock Cafe is great for brunch. My husband and I have always loved Cafe Milano for dinner and Chez Billy Sud has been a great addition to the neighborhood! Some of my clients enjoy kayaking on the Potomac; biking or walking along the C & O Canal is great fun too!
How would you describe the typical buyer profile here?
I can’t really say there is one ‘typical’ buyer profile. Georgetown is home to many diplomats and members of the international community, IMF and World Bank. At my last couple of Open Houses in Georgetown I noticed many younger families. There seems to be a trend of families with younger kids who want to live in the city. There are also many empty nesters who like Georgetown living, downsizing to a condo or a row house and not having to drive every day.
What is your outlook on the current housing market in Georgetown?
Georgetown homes are higher in value than most DC neighborhoods. Sales and listing prices have appreciated by almost 50% since the economic downturn ten years ago and there are no signs of it slowing down. With D.C. being the closest metropolitan area to HQ2 and all that Georgetown offers as a community, in addition to the fact that there is no more land to build on, buying in Georgetown is definitely a good investment.
