Market Report - 20003 - Washington, DC SE (Capitol Hill South) 2016 02

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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 21 homes were sold in February 2016, while the average for the prior 5 years is 27.  This ratio continues to be a little low for buyers, though it's only a few homes shy.

Currently 35 homes are on the market, whereas the February average for the prior 5 years is 46.  Statistically this is again just a few homes, but that means a few buyers don't get the home.

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 1.4.  Is there room to grow here? Perhaps we will see that in the future.

 

We continue to see bold sales numbers, such as the $654,900 Sold price in February 2016, while over the prior five years, the average sold price was $589,780.

This is a stable market during this time of year as shown with the average home being sold in 11 days and the 5 year average being 20. Let us be grateful for one average statistic this month.   

While the ratio of sold price to original list price is 100%, the average for the prior 5 years was 99.5%, again, a stable market during the winter moths and leading into a spring with the expectation of an upward trend with asking prices being met with a corresponding upward trend in sold prices.

This neighborhood remains quintessentially Washington, and is a favorite among people who want to live in Washington,DC. In 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)

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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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2016 Market Reports
Tags:
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Rainmaker
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David Alan Baker Laveen & South Phoenix Realtor
Keller Williams Realty Phoenix - Laveen, AZ
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There are some nice charts here, good report.

Mar 29, 2016 12:22 PM #1
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Rainmaker
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Claude Labbe

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