Market Report - 20003 - Washington, DC (Capitol Hill South) 2018 06

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 had this summer's All Star game, which would show the hotel & commercial construction wasn't quite ready, still plenty of cranes currently in operation. When done, it will be a 'new' city.

A total of 63 homes were sold in June 2018, a small increase from May and a slight increase from the prior 5 year average of 56.  This neighborhood could obviously support more sales with the strong demand.  If there were a greater supply, we'd see more sales.

Currently 61 homes are on the market, and the June average for the prior 5 years is 59. A tiny drop from the previous month and slightly 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 1.5.  Surely the market is absorbing the supply very quickly.

We continue to see strong sales numbers, such as the average $768,500 sold price in June 2018, this number is considerably higher than the five year average of solds at $690,800.

This June is average, with the most homes being sold in 7 days which is right at the 5 year average of 7. This market is fast.

The ratio of sold price to original list price is 100.9%, the average for the prior 5 years was 100.2%, sellers are enjoying a bold market while buyers are having to bring their "A" game.

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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Topic:
Real Estate Market Trends
Location:
District of Columbia District of Columbia County Washington Capitol Hill South
Groups:
Market Reports
City and State Community & Marketing Reports
2018 Market Reports
Tags:
capitol hill
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navy yard
20003

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Rainmaker
2,963,716
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Claude what an awesome report and when I saw the Days on Market all I could think was if you are a buyer you better be ready to jump on a property or you will miss out. Sellers need to reach out to you for proper pricing and marketing, Endre

Jul 30, 2018 09:23 PM #1
Rainmaker
4,315,801
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 

Jul 31, 2018 02:58 AM #2
Rainmaker
3,280,502
Sheila Anderson
Referral Group Incorporated - East Brunswick, NJ
The Real Estate Whisperer Who Listens 732-715-1133

Good morning Claude. You did a nice job with this but mostly I just wanted to stop by and say hello.

Jul 31, 2018 07:45 AM #3
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Rainmaker
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Claude Labbe

Realty for Your Busy Life
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