Market Report - 20002 - Washington, DC (Capitol Hill North) 2018 09

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, 58 homes were sold in September 2018, while the average for the prior five years is 70, This is again a decent drop from last month, and lower than 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 175 homes are on the market, whereas the September average for the prior 5 years is 150. Quite a bit more inventory than last months fast market, and higher than average. As we move into fall we'll have to watch what this means for buyers.

We are at 2.1 Months of Supply, which is a touch higher than the 5 years average of 1.9 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 drop to a $594,250 sold price, which is just above the the 5 year average of $564,075.  Healthy growth continues, but this zip includes emerging areas as well; which helps to stablize and modulate price increases.

Homes were sold in 14 days in September which is a touch lower than the 5 year average of 15 days. Pricing continues to lean more towards a sellers market with the ratio of sold price to original list price maintaining at 99.7%, the average for the prior 5 years is 99.9%.  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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2018 Market Reports
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Rainmaker
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Joyce Marsh, Daytona Beach Florida
Joyce Marsh Real Estate - Daytona Beach, FL
Coastal Homes and Lifestyles

Thanks for updating us about your real estate market in the Capitol Hill DC area. Best of luck with your marketing. 

Oct 22, 2018 05:51 AM #1
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Rainmaker
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Claude Labbe

Realty for Your Busy Life
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