Capitol Hill is also a neighborhood in Washington, a big village, split halfway across, half in the NE and half in the SE quadrant of Washington, DC. Politicians work here, but people live here also.
On the north side, an iconic landmark is Union Station, of which 60,000 use daily, shown here to represent the local perspective. This is a true transportation hub, with Amtrak, suburban rail, intercity bus and the Metro(subway) stations to converge.
As of February 2016, the H Street Trolley now gets people from (almost) Union Station to past the 15th St Starburst.
This view shows the station as you drive up in a cab, or Bikeshare or walk from Capitol Hill on left.
In a nutshell, 98 homes were sold in March 2017, while the average for the prior five years is 81, which indicates above average demand and supply. Will it continue? So far so good, but the next few months will tell us if the trend continues to hold.
Currently 132 homes are on the market, whereas the March average for the prior 5 years is 97, we are seeing a bigger supply than average, which could indicate that supply is finally catching up with demand. This seems to have helped prices stabilize.
We are at 1.5 Months of Supply, this is slightly about average, with 1.3 months of supply in the prior 5 years. I will expect this number, as well as sales overall to move up in the next 2-3-4 years. Numbers are up a bit from earlier in the year giving those buyers who are looking to buy a home in this neighborhood a bit more choice.
We continue to have decent sales with a $535,750 Sold price which is moderately above the the 5 year average of $523,930. I do think this number shows this zip includes emerging areas as well; otherwise, the differential from 2017 to prior 5 years would be more.
Still monitoring if there will be a slowdown, but when noting the average home was sold in 10 days in March vs. looking at the 5 year average being 13 days, it hasn't materialized yet. Pricing is still stable with the ratio of sold price to original list price maintaining at 100%, the average for the prior 5 years is 100%. Respectable and consistent with adjoinging neighborhoods.
This neighborhood comprises several subneighborhoods, from the brand new NOMA construction, to Trinidad and Union Market (itself a new mecca) and trendy H Street. As well as the tried and true, Capitol Hill and Union Station. I would also point out that in the Redfin 2014 Most Competitive Neighborhoods, the NOMA sub-neighborhoods in 20002 which made their list. NOMA is 12th most competitive and Capitol Hill core is itself the 16th most competitive neighborhood. This would show that NOMA was the highest competitive of all in the entire metro Washington, DC area.
(data from getsmartcharts; photo from Amtrak)
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