Market Report - 20003 - Washington, DC SE (Capitol Hill South) 2015 10

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Real Estate Agent with Real Living | At Home DC / MD / VA

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, 49 homes were sold in October 2015, while the average for the prior 5 years is 38.  This ratio seems to be fairly constant during 2015 and continues to be better than nearby neighborhoods.

Currently 60 homes are on the market, whereas the October average for the prior 5 years is 64.  Statistically there is almost no change and falls into the average category.

We find this neighborhood to be at 1.5 Months of Supply. A very low supply here as compared to some other neighborhoods and less than the five year average of 1.9.  Is there room to grow here? Perhaps we will see that in the future.

 

We see a bold $700,000 Sold price in October 2015, while over the prior five years, the average sold price was $598,500.

This is a strong market as shown with the average home being sold in 10 days, 5 year average being 9, which should suggest a savvy seller will sell quickly, and a savvy buyer must act promptly and with their best offer.

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 asking prices being met and a corresponding upward trend in sold prices.

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

 

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Rainmaker
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Bob Baesmann
DFW Team Realty - Plano, TX
DFW Team Realty | 972-978-8800

Great Market Report.

Thanks for the information on the local community sales!

Dec 06, 2015 07:50 AM #1
Rainmaker
600,540
Claude Labbe
Real Living | At Home - Washington, DC
Realty for Your Busy Life

Bob Baesmann People do like this neighborhood.  Thank you.

Dec 06, 2015 07:54 AM #2
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Rainmaker
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Claude Labbe

Realty for Your Busy Life
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