Market Report - 20002 - Washington, DC (Capitol Hill North) 2017 12

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.

 

This month, 64 homes were sold in December 2017, while the average for the prior five years is 73, which indicates througput is slower than expected for end of year. Supply continues to come online, potentially would expect some price adjustments to balance out.

Currently 113 homes are on the market, whereas the December average for the prior 5 years is 106, we are seeing a higher than average supply, and could really use more buyers for homes, though this does work to buyer advantage.

We are at 1.4 Months of Supply, this is right at average, with 1.4 months of supply in the prior 5 years.  I will expect this number, as well as sales overall to move up in the next several 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 $647,000 Sold price which is above the the 5 year average of $573,650.  Healthy growth, but this zip includes emerging areas as well; which helps to stablize and modulate price increases.

The slowdown never materialized when noting the average home was sold in 12 days in December vs. looking at the 5 year average being 14 days. Pricing is still stable with the ratio of sold price to original list price maintaining at 99.5%, the average for the prior 5 years is 99.8%.  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:
Market Reports
City and State Community & Marketing Reports
2018 Market Reports
Tags:
capitol hill
market reports
20002

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
4,472,071
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Good morning Claude.  Thanks for keeping us informed about the real estate market in Washington, DC (Capitol Hill North).

 

Feb 05, 2018 05:34 AM #1
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
554,274

Claude Labbe

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