Market Report - 20002 - Washington, DC (Capitol Hill North) 2018 08

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, 75 homes were sold in August 2018, while the average for the prior five years is 83, This is a decent drop from last month, but closer to the five year average. 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 August average for the prior 5 years is 121. Identical to last months fast market, but still higher than average, and as we move into fall we'll have to watch what this means for buyers.

We are at 1.7 Months of Supply, which is a touch higher than the 5 years average of 1.5 months of supply.  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 slight increase to a $625,000 sold price, which is above the the 5 year average of $586,790.  Healthy growth continues, but this zip includes emerging areas as well; which helps to stablize and modulate price increases.

Homes were sold in 10 days in August which is a touch lower than the 5 year average of 12 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

 

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District of Columbia District of Columbia County Washington Capitol Hill North
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2018 Market Reports
Tags:
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Rainmaker
2,860,347
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Claude, good to see you providing great Marketing information to your buyers and sellers, we love to see it on AR too. On a side note love the gages you use, need to teach me so I can copy it too in my market, Endre

Sep 21, 2018 11:19 PM #1
Rainmaker
4,183,023
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 

Sep 22, 2018 03:25 AM #3
Rainmaker
2,815,568
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Claude. Like your market report and analysis! Thanks for the update. Enjoy your day!

Sep 22, 2018 05:44 AM #4
Rainmaker
3,158,048
Sheila Anderson
Referral Group Incorporated - East Brunswick, NJ
The Real Estate Whisperer Who Listens 732-715-1133

Good morning Claude. This is terrific local information. I stopped by to say hello and wish you a happy fall.

Sep 22, 2018 06:02 AM #5
Rainmaker
1,543,546
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker and Attorney Licensed in DC, MD, VA,

Hi Claude - thanks for the market update on 20002 - Capitol Hill - DC

Sep 22, 2018 06:13 AM #6
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Rainmaker
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Claude Labbe

Realty for Your Busy Life
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