Market Report - 20003 - Washington, DC SE (Capitol Hill South) 2015 04

By
Real Estate Agent with Real Living | At Home DC / MD / VA
https://activerain.com/droplet/4DGS

Nationals ParkCapitol 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 south side of this neighborhood is essentially Barracks Row, and the rebirth of the Navy Yard and now the Nationals Park neighborhood.  The Navy Yard has very good Metro access, and is also home to a newer iconic landmark, (Washington baseball) Nationals Park.

Locals are happy they will be seeing the 2018 All Star game, which should bring in yet another round of hotel & commercial construction within the next several months, beyond all the cranes currently in operation.

In a nutshell, 50 homes were sold in April 2015,while the average for the prior 5 years is 42.  This is a much better ratio than nearby neighborhoods, so I accept this silver lining.

Currently 52 homes are on the market, whereas the April average for the prior 5 years is 59.  Again, trying to find the silver lining, this is almost average, which should help attenuate price pressures.

We find this neighborhood to be at 1.3 Months of Supply. Again, better than neighbors (yes that's true), but proportionally quite less than the five year average of 1.8.

 

Witt this pressure, we see in April 2015 a $605,000 Sold price, while over the prior five years, the average sold price was $581,150, though I would have expected a sharper uptick.

This is a strong market as shown with the average home being sold in 8 days, 5 year average being 11, which should support my view that prices are not heading upwards as much as could be expected.

While the ratio of sold price to original list price is 100.%, the average for the prior 5 years was 99.6%, again, supporting an upward trend with pricing.

This neighborhood remains quintessentially a Washington, an is a favorite among people who want to live in Washington, DC.  I would also point out that in the Redfin 2014 Most Competitive Neighborhoods, there were 2 sub-neighborhoods in 20003 which made their list.  Hill East  is the #14th most competitive and Capitol Hill core is itself the 16th most competitive neighborhood.

(data from getsmartcharts; photo from jdland.com, an amazing local blogger resource, with a reference and link to Redfin)

Posted by

Claude Labbe, Realty for Your Busy Life

Real Living | At Home
11 Dupont Circle #650
Washington, DC 20036
(202) 518-8781 bus / (703) 868-7774 mobile
claude@labbe.com

 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Real Estate Market Trends
Location:
District of Columbia District of Columbia County Washington Capitol Hill South
Groups:
City and State
Market Reports
Tags:
capitol hill
market reports
navy yard
20003

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
1,916,648
Ronald DiLalla
Century 21 Discovery DRE 01813824 - Anaheim, CA
No. Orange Cty Real Estate

      Hi, What an opportunity for buyers in your area.    Thanks for sharing with us in  AR Land.

May 31, 2015 04:44 AM #1
Rainmaker
596,693
Claude Labbe
Real Living | At Home - Washington, DC
Realty for Your Busy Life

Ronald DiLalla This works out well for the Sellers, until  they then have to buy their next home (unless they want to move to a fully different part of the country).

May 31, 2015 10:05 AM #2
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
596,693

Claude Labbe

Realty for Your Busy Life
What's Your Preferred metro Washington DC Neighborhood ?
*
*
*
*
Spam prevention