Market Report - 20003 - Washington, DC (Capitol Hill South) 2018 09

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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 31 homes were sold in September 2018, another drop from August, but right at the prior 5 year average of 31.  This neighborhood could obviously support more sales with the strong demand.  If there were a greater supply, we'd see more sales.

Currently 80 homes are on the market, a nice bump! Quite a few more than the previous month, and higher than the prior 5 year average of 62.  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 1.9 Months of Supply. Slightly higher than last month, but still a low supply as compared to some other neighborhoods, and very close to the five year average of 1.5.  Surely the market is absorbing the supply very quickly.

A bit of a drop from last month, however we continue to see decent sales numbers, as evidenced by the average $725,000 sold price in September 2018.  Plus an increase over the five year average of solds at $701,000.

This September is average, with the most homes being sold in 15 days which is almost at the 5 year average of 16. This market is fast.

The ratio of sold price to original list price is 100%, the average for the prior 5 years was 99.8%, 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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Market Reports
City and State Community & Marketing Reports
2018 Market Reports
Tags:
capitol hill
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navy yard
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