Market Report - 20003 - Washington, DC (Capitol Hill South) 2018 04

By
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 41 homes were sold in April 2018, a slight drop from March and a slight slowing from the prior 5 year average of 43.  This neighborhood could obviously support more sales with the strong demand.  If there were a greater supply, we'd see more sales.

Currently 58 homes are on the market, and the April average for the prior 5 years is 52. A modest increase from the previous month and a bit higher than average.  This 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 1.4 Months of Supply. A low supply here as compared to some other neighborhoods and very close to the five year average of 1.3.  Surely the market is absorbing the supply very quickly.

We continue to see strong sales numbers, such as the average $780,000 sold price in April 2018, this number is higher than the five year average of solds at $664,410 and a jump from the last month.

This April market has sped up, with the average home being sold in 6 days which is near the 5 year average of 7. This market is fast.

The ratio of sold price to original list price is 101.2%, the average for the prior 5 years was 100.2%, that slight whiff of sellers overreaching with their initial asking prices just seemed to evaporate.

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 Capitol Hill South
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2018 Market Reports
Tags:
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Rainmaker
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Patricia Feager
DFW FINE PROPERTIES - Southlake, TX
Selling Homes Changing Lives

Claude Labbe - Guilty as charged! When I hear "Capital Hill," I immediately think about the Capital building and the politicians. I don't think about the people who live there. Their lives matter too! Thank you for the awakening!

Jun 11, 2018 01:01 AM #1
Rainmaker
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Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

You always provide good information about your housing market. Thank you for sharing 

Jun 11, 2018 03:33 AM #2
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Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Hi Claude! Another great report and I do believe this would be the primo area to be right in the heart of everything DC!

Hope you have a wonderful weekend!

Jun 16, 2018 10:11 PM #3
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Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

I'm sure it is, Claude! I can only imagine that it's like New York - the city never sleeps!

Jun 17, 2018 08:28 PM #4
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Claude Labbe

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