Market Report - 20003 - Washington, DC (Capitol Hill South) 2017 12

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Real Estate Agent with Real Living | At Home DC / MD / VA

Nationals ParkCapitol Hill is not only a political idea, it is also a big village, a neighborhood 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 Barracks Row, and the ever growing and popular Navy Yard with 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. Plus more housing & commercial than the locals can believe.

We will be hosting this summer's All Star game, which should continue the hotel & commercial construction within the next several months, beyond all the cranes currently in operation.

A total of 29 homes were sold in December 2017, and the average for the prior 5 years is 36.  Sales need to increase faster as this neighborhood could obviously support more sales in view of the strong demand.  If there were a greater supply, we'd see more sales.

Currently 35 homes are on the market, and the December average for the prior 5 years is 39.  This means we are a bit below average, and that means we really need more opportunities for buyers in this neighborhood. If you build it, they will come would apply here, though we are beginning to see strains of capacity and changes to parts of the neighborhood.

We find this neighborhood to be at 0.8 Months of Supply. A low supply here as compared to some other neighborhoods and very close to the five year average of 1.0.  Surely clear the market is absorbing the supply very quickly.

We continue to see strong sales numbers, such as the $670,000 sold price in December 2017, this number is higher than the five year average of solds at $652,099, but represents the seasonal drop as fall turns to winter.

This December market does slow down, with the average home being sold in 20 days which is consistent with the 5 year average of 20. This market is doing stable, at least for this month.

The ratio of sold price to original list price is 96.7%, the average for the prior 5 years was 99.0%, almost a whiff of sellers overreaching with their initial asking 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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District of Columbia District of Columbia County Washington
Groups:
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City and State Community & Marketing Reports
2018 Market Reports
Tags:
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Rainmaker
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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!

Feb 01, 2018 06:38 AM #1
Rainmaker
1,794,365
Patricia Feager
DFW FINE PROPERTIES - Southlake, TX
Selling Homes Changing Lives

Claude Labbe - When I was a freshman in High School, my class took a trip to Washington, D.C. There I had to rely on the guidance of my teachers and chaperons.

Back in the Spring of 1988, I took a trip to Washington, D.C. to see the Wall and other historical buildings in our Nation's Capital. I depended on my local Congressman and his recommendations for where to go and what to see while I was alone there with my children.

Several years ago, I traveled with a few other real estate agents to D.C. for an NAR Conference. We had to stay together and I depended on the one who had the most experience to get us to places where we needed to go.

If I were moving to your area, I would rely heavily on you because you know this place better than any of my previous traveling companions or scheduled agendas. Your marketing reports are so thorough and one of the best I have seen. Plus, we have talked on the phone and you give me confidence in your knowledge and expertise. For that reason, I would refer buyers your way too. Thank you for providing relevant information that is so valuable and important to know. 

Feb 05, 2018 08:03 AM #2
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Rainmaker
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Claude Labbe

Realty for Your Busy Life
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