Market Report - 20003 - Washington, DC (Capitol Hill South) 2018 10

By
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 56 homes were sold in October 2018, a big increase from September, and higher than the 5 year average of 47.  This neighborhood could obviously support more sales with the strong demand.  If there were a greater supply, we'd see more sales.

Currently 82 homes are on the market, a few more than last month. Though lower than the prior 5 year average of 65.  Additional opportunities are still needed 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. The same as last month, but still a low supply as compared to some other neighborhoods, and very close to the five year average of 1.6.  Surely the market is absorbing the supply very quickly.

Higher sales numbers than last month with an average $798,700 sold price in October 2018.  A nice increase over the five year average of solds at $701,530.

Due to the migration from Matrix to Bright, this metric is currently unavailable. Hopefully it will be available next month. The current 5 year average of 8. 

The ratio of sold price to original list price is 100%, the average for the prior 5 years was 100%, 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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Topic:
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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
navy yard
20003

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Ambassador
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Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

Hi Claude, how are you?  Looks like your market is always super short in inventory with only 1.9 months worth.  We got down to three last summer, but back up 6 now.  Hope you are well and have a wonderful Thanksgiving.

Nov 27, 2018 08:55 PM #1
Rainmaker
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Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Claude, I love it when list to sales price  is 100%  clearly a fast and seller's market, Endre

Nov 27, 2018 11:34 PM #2
Rainmaker
3,274,141
Sheila Anderson
Referral Group Incorporated - East Brunswick, NJ
The Real Estate Whisperer Who Listens 732-715-1133

Good morning Claude. You have been on my mind a lot lately and I wanted to tell you. Good post as well.

Nov 28, 2018 06:18 AM #3
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Rainmaker
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Claude Labbe

Realty for Your Busy Life
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