Market Report - 20002 - Washington, DC NE (Capitol Hill North) 2017 9

By
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, 51 homes were sold in September 2017, while the average for the prior five years is 70, which indicates above average demand and lower than average supply.  The next few months will tell us if this neighborhood trends upward like some of the others.

Currently 136 homes are on the market, whereas the September average for the prior 5 years is 138, we are seeing a nearly average supply, and could really use more homes for buyers. 

We are at 1.6 Months of Supply, this is slightly about average, with 1.8 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 decent sales with a $606,500 Sold price which is above the the 5 year average of $561,790. I do think this number shows this zip includes emerging areas as well; otherwise, the differential from 2017 to prior 5 years would be more.

The slowdown never materialized when noting the average home was sold in 12 days in September vs. looking at the 5 year average being 12 days. Pricing is still stable with the ratio of sold price to original list price maintaining at 100%, the average for the prior 5 years is 100%.  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)

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
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Rainmaker
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Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

I haven’t seen the sky that blue in the longest time! Here’s hoping that my prediction comes true for the market!

Oct 24, 2017 11:12 PM #1
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Rainmaker
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Claude Labbe

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