Market Report - 20002 - Washington, DC NE (Capitol Hill North) 2017 10

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, 98 homes were sold in October 2017, while the average for the prior five years is 84, 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 October average for the prior 5 years is 139, 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 below 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 $624,950 Sold price which is above the the 5 year average of $557,490. 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 8 days in October vs. looking at the 5 year average being 10 days. Pricing is still stable with the ratio of sold price to original list price maintaining at 99.7%, the average for the prior 5 years is 99.9%.  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

 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Real Estate Market Trends
Location:
District of Columbia District of Columbia County Washington
Groups:
City and State
Market Reports
Tags:
market report
capitol hill
20002

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
3,186,531
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Claude missed your market reports, and from the looks of it it could be a carbon copy of our market, short on inventory, and demand being high, Endre

Nov 19, 2017 11:04 PM #1
Rainmaker
2,742,370
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

It’s somewhere in most markets that I find some other things are comparable to this market once I survey the land on the average

Nov 19, 2017 11:24 PM #2
Rainmaker
2,742,370
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

Short term inventory is that Way in quite a few areas. You are not alone by any means at all, Endre Barath, Jr.

Nov 19, 2017 11:25 PM #3
Rainmaker
4,041,657
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Claude, nice to see your market reports, and sure looks like you are busy in the great City!  

Nov 20, 2017 06:37 AM #4
Rainmaker
1,592,795
Jeremy K. Frost
Keller Williams Realty - Dripping Springs, TX
Associate Broker, CNE, CRS, ePro, PSA

Always good to be in the loop. Thank you for sharing and best of luck!

Nov 20, 2017 07:31 AM #5
Rainmaker
3,186,531
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Claude it has been a while just wanted to stop in and hope you had a fantastic Thanksgiving, Endre

Nov 29, 2017 11:42 PM #6
Ambassador
892,452
Lynn B. Friedman
Atlanta Homes ODAT Realty Call/Text 404-939-2727 Buckhead - Midtown - Westside -- and more ... - Atlanta, GA
Concierge Service for Our Atlanta Sellers & Buyers

Claude Labbe 
Loved the graphics and dials!
Does your MLS supply them or did you find a great graphics provider?
All the best - Lynn

Jan 01, 2018 02:07 PM #7
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
593,001

Claude Labbe

Realty for Your Busy Life
What's Your Preferred metro Washington DC Neighborhood ?
*
*
*
*
Spam prevention