Market Report - 20002 - Washington, DC (Capitol Hill North) 2018 01

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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, 62 homes were sold in January 2018, while the average for the prior five years is 54, which indicates a typically slower market towards the end of year. As supply continues to come online, we would potentially expect some price adjustments to balance out.

Currently 92 homes are on the market, whereas the January average for the prior 5 years is 103, we are seeing a slightly lower than average supply, and could really use more homes for the buyers, though as we move into spring we would expect this number to increase.

We are at 1.1 Months of Supply, this is a touch lower than 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 $635,000 Sold price which is above the the 5 year average of $573,410.  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 January vs. looking at the 5 year average being 19 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 99.2%.  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 Capitol Hill North
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2018 Market Reports
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Rainmaker
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Joyce Marsh, Daytona Beach Florida
Joyce Marsh at Premier Sotheby’s International Realty - Daytona Beach, FL
Proudly Selling Florida Homes and Lifestyles

Claude, I’m sure that home buyers and sellers really appreciate receiving this updated real estate information and the local market reports that you provide. 

Feb 26, 2018 03:39 PM #1
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Rainmaker
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Claude Labbe

Realty for Your Busy Life
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