Market Report - 20002 - Washington, DC (Capitol Hill North) 2018 07

By
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, 104 homes were sold in July 2018, while the average for the prior five years is 90, giving us a slight drop. As supply continues to come online, we would potentially expect some price adjustments to balance out, but we'll need to see more inventory for that to happen.

Currently 139 homes are on the market, whereas the July average for the prior 5 years is 129. Again, a slight drop from last months fast market, but still higher than average, and as we move into summer, that usually means more homes for buyers.

We are at 1.6 Months of Supply, at the mathimatical average which is 1.6 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.

This market mostly stayed the course, although we did have a dip to a $600,000 sold price, however this is above the the 5 year average of $599,250.  Healthy growth continues, but this zip includes emerging areas as well; which helps to stablize and modulate price increases.

Homes were sold in 13 days in July which is a touch higher than the 5 year average being 10 days. Pricing continues to lean more towards a sellers market with the ratio of sold price to original list price maintaining at 100%, the average for the prior 5 years is 100%.  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

 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Real Estate Market Trends
Location:
District of Columbia District of Columbia County Washington
Groups:
Market Reports
City and State Community & Marketing Reports
2018 Market Reports
Tags:
capitol hill
market reports
20002

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
705,729
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 04:09 PM #1
Rainmaker
1,432,148
Jeremy K. Frost
Keller Williams Realty - Dripping Springs, TX
Associate Broker, CNE, CRS, ePro, PSA

Thank you for keeping us posted and up to date. Best of luck!

Aug 22, 2018 11:23 AM #2
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
552,149

Claude Labbe

Realty for Your Busy Life
What's Your Preferred metro Washington DC Neighborhood ?
*
*
*
*
Spam prevention