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 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.