Capitol Hill is not only a political idea, it is also a big village, a neighborhood 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 south side of this neighborhood is Barracks Row, and the ever growing and popular Navy Yard with the Nationals Park neighborhood.
The Navy Yard has very good Metro access, and is also home to baseball's Nationals Park. This neighborhood has also become the 'it' neigborhood, growing faster than any other in the past year. All the residential growth has fueled demand for lots of new neighborhood amenities, which brings more people. It certainly fees like a 'new' city. And FINALLY in 2019, it's now a World Series city for certain.
A total of 33 homes were sold in January 2020, a slight drop from the prior month, though higher than the 5 year average of 25. This market could really use more inventory. We are heading towards spring, lets hope that these numbers increase as there is still lots of demand in this neighborhood, so the more supply the better.
Currently there are 61 homes are on the market, a bit of a jump from last month, and a few higher than the 5 year average of 49. We continue to need more opportunities for buyers in this neighborhood. If you build it, they will come would apply here, though we are beginning to see strains of capacity and changes to parts of the neighborhood.
We find this neighborhood to be at 1.5 Months of Supply. A small increase from last month, but still a low supply as compared to some other neighborhoods, and a tiny bit higher than the five year average of 1.2. Surely the market is absorbing the supply very quickly.
We see a pricing drop from the previous month, to an average $780,000 sold price in January 2020. This price is nearly at the five year average of solds at $727,250, can't complain, but higher is always better for sellers.
For the month of January, most homes were sold in 18 days, Though a good bit higher than the 5 year January average of 22. This is nearly identical to last months numbers.
The ratio of sold price to original list price is 98.7%, the average for the prior 5 years was 98.7%, again, very little breathing room at all for buyers.
Parts of this neighborhood remains quintessentially Washington, and parts are clearly 'new' Washington, which makes this a favorite among people who want to live in Washington,DC. This zip code ranked #16 in Washingtonian Magazines Great Places To Live 2019 issue, which ranked the 100 priciest zip codes in the greater Washington DC metro area.
(data from getsmartcharts; photo from jdland.com, an amazing local blogger resource, with a reference and link to Redfin)
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