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, with some 40 million people annually, 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 2019, 2nd busiest station in the country.
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. If you were there today, you'd see no cabs, and no people inside (or, truly just a handful, not 100's, but mere dozens).
This month, 138 homes were sold in September 2020. Numbers increased again from last month, and numbers are still considerably higher than the five year average of 83. Activity hit a wall when COVID came into town, but the recovery is still doing well. Perhaps the market will remain stable and improve going forward, we will continue to watch.
Currently there are 189 homes are on the market, this is an increase from the previous month, and still higher than the September average for the prior 5 years of 172. When will this market level? We'll watch for the trend. More inventory equals more opportunity.
We are at 1.9 Months of Supply, which is a small increase from last month and a little higher than the 5 year average of 2.1 months of supply. 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. Let's see how soon we get to these numbers again, be that 1-2-3 or x months.
September prices dropped from last month as we had a $665,000 sold price, though still higher than the the 5 year average of $618,320. Obviously there is more demand than inventory. Growth continues, but this zip includes emerging areas as well.
In a small increase from last month, homes were sold in only 12 days in September. This is a few days lower than the 5 year average of 15 days, so once again, there wasn't much of a slowdown this month. Buyers seemed to know what they wanted and seized the moment.
A no room for buyers in September again, with the ratio of sold price to original list price maintaining at 100%, the average for the prior 5 years is 99.8%.
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.This zip code ranked #27 in Washingtonian Magazines Great Places To Live 2019 issue, which ranked the 100 priciest zip codes in the greater Washington DC metro area. With confidence, expect this zip to move up the chart in the next year(s) as the NOMA/Union Market continue to grow and the demand is challenged to be met.
(data from getsmartcharts; photo from Amtrak)
Comments(1)