Market Report - 20003 - Washington, DC SE (Capitol Hill South) 2015 11

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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.

A total of 45 homes were sold in November 2015, while the average for the prior 5 years is 30.  This ratio seems to be fairly constant during 2015 and continues to be better than nearby neighborhoods.

Currently 40 homes are on the market, whereas the November average for the prior 5 years is 59.  Statistically there is almost no change and falls into the average category.

We find this neighborhood to be at 0.9 Months of Supply. A extremely low supply here as compared to some other neighborhoods and less than the five year average of 1.7.  Is there room to grow here? Perhaps we will see that in the future.

 

We continue to see bold sales numbers such as the $655,000 Sold price in November 2015, while over the prior five years, the average sold price was $588,400.

This is a strong market as shown with the average home being sold in 8 days, 5 year average being 13, 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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Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Claude, great market update for 20003, and you show exactly what the market is doing in this sector of DC.  You are the REALTOR to contact.

Dec 22, 2015 09:53 PM #1
Rainmaker
596,293
Claude Labbe
Real Living | At Home - Washington, DC
Realty for Your Busy Life

Even with nationally a slow December...we were rolling along here Joan Cox 

Dec 30, 2015 11:10 AM #2
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Rainmaker
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Claude Labbe

Realty for Your Busy Life
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