Market Report - 20003 - Washington, DC SE (Capitol Hill South) 2017 11

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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 46 homes were sold in November 2017, and the average for the prior 5 years is 35.  Sales could increase faster as this neighborhood could obviously support more sales.  If there were a greater supply, we'd see more sales.

Currently 49 homes are on the market, and the November average for the prior 5 years is 53.  This means we are a bit below average, and that means we really need more opportunities for buyers in this neighborhood.  Hopefully sales will continue to trend up moving forward.

We find this neighborhood to be at 1.2 Months of Supply. A low supply here as compared to some other neighborhoods and very close to the five year average of 1.4.  Is there room to grow here? Perhaps we will see that in the future.   Again, if there we more homes, this would become more reasonable.

 

We continue to see bold sales numbers, such as the $757,500 sold price in November 2017, this number is quite a bit higher than the five year average of solds at $662,060.

This is a fast market during this time of year, as shown with the average home being sold in 8 days which is a good bit lower than the 5 year average of 11. This market is doing well.

The ratio of sold price to original list price is 99.7%, the average for the prior 5 years was 99.5%, again, a stable market during the summer moving into fall with a continuing upward trend and 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 two 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)

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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