Market Report - 20003 - Washington, DC (Capitol Hill South) 2018 07

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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 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 48 homes were sold in July 2018, a drop from June but a slight increase from the prior 5 year average of 45.  This neighborhood could obviously support more sales with the strong demand.  If there were a greater supply, we'd see more sales.

Currently 72 homes are on the market, and the July average for the prior 5 years is 57. Quite a few new homes from the previous month and higher than average.  However, 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 1.6 Months of Supply. A little higher than last month, but still a low supply as compared to some other neighborhoods, and very close to the five year average of 1.4.  Surely the market is absorbing the supply very quickly.

Although it's a drop from last month, we continue to see decent sales numbers, as evidenced by the average $647,000 sold price in July 2018.  However, this number is a touch lower than the five year average of solds at $691,105.

This July is average, with the most homes being sold in 9 days which is right at the 5 year average of 10. This market is fast.

The ratio of sold price to original list price is 100%, the average for the prior 5 years was 99.9%, 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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District of Columbia District of Columbia County Washington
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2018 Market Reports
Tags:
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Rainmaker
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Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Good day 

Thank you for sharing your information with us 

Have a great day.

08/21/2018.  

Aug 21, 2018 04:11 PM #1
Rainmaker
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Joyce Marsh, Daytona Beach Florida
Joyce Marsh at Premier Sotheby’s International Realty - Daytona Beach, FL
Proudly Selling Extraordinary Homes and Lifestyles

Your latest market snapshot report and graphs are very helpful for those looking to buy or sell. Thanks for the update. 

Aug 22, 2018 12:27 PM #2
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Rainmaker
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Claude Labbe

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