Market Report - 20002 - Washington, DC NE (Capitol Hill North) 2016 02

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

Union StationCapitol 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, of which 60,000 use daily, 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 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.

 

In a nutshell, 66 homes were sold in February 2016, while the average for the prior 5 years is 50, which indicates a strong increase.  This is a good sign, will it continue? Time will tell as we watch trends in the next several months.

Currently 107 homes are on the market, whereas the February average for the prior 5 years is 92, we are seeing a bigger supply than average, which could indicate that supply is finally catching up with demand.

We are at 1.4 Months of Supply, this matches the 1.4 months of supply in the prior 5 years.  I will expect this number, as well as sales overall to move up in the next 2-3-4 years. 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.

We continue to have strong sales with a $459,500 Sold price which is slightly above to the 5 year average of $457,975. I do think this number shows this zip includes emerging areas as well; otherwise, the differential from 2016 to prior 5 years would be more significant.

A good market exists with the average home being sold in 32 days and the 5 year average being 17.  This likely reflects bad weather, but also a more rational balance of supply & demand. This is noticeably higher than most neighborhoods.

The ratio of sold price to original list price is 100%, the average for the prior 5 years was 99.4%. Respectable, and a touch higher than most adjoining neighborhoods.

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. I would also point out that in the Redfin 2014 Most Competitive Neighborhoods, the NOMA sub-neighborhoods in 20002 which made their list.  NOMA is 12th most competitive and Capitol Hill core is itself the 16th most competitive neighborhood.  This would show that NOMA was the highest competitive of all in the entire metro Washington, DC area.

(data from getsmartcharts; photo from Amtrak)

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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District of Columbia District of Columbia County Washington Capitol Hill North
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2016 Market Reports
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