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 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, 109 homes were sold in May 2016, while the average for the prior five years is 83, which indicates above normal, and continuing with a trend upward. It looks good right? Will it continue? Three months in a row, but the next few months will tell us if the trend holds consistent.
Currently 128 homes are on the market, whereas the May average for the prior 5 years is 109, we are seeing a bigger supply than average, which could indicate that supply is finally catching up with demand.
We are at 1.7 Months of Supply, this is more than the average of 1.6 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 $609,000 Sold price which is above to the 5 year average of $540,900. 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
A good market exists with the average home being sold in 10 days and the 5 year average being 9 days. A more rational balance of supply & demand, since this is noticeable higher than most neighborhoods.
The ratio of sold price to original lis price is 100%, the average for the prior 5 years is 100.4%. Respectable and consistent with adjoinging 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)
Comments(1)