Market Report - 20003 - Washington, DC (Capitol Hill South) 2018 12

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 43 homes were sold in December 2018, a bit of an increase from November, and more than the 5 year average of 36.  Perhaps we are heading up? More obstacles to come, so next month will tell the tale if this is a trend. This neighborhood needs more sales with the strong demand.  If there were a greater supply, we'd see more sales.

Currently 50 homes are on the market, quite a few less than last month. It is higher than the prior 5 year average of 41, but more 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 1.1 Months of Supply. Less than last month, but still a low supply as compared to some other neighborhoods, and very close to the five year average of 1.0.  Surely the market is absorbing the supply very quickly.

We see a drop in sales prices from the previous month with an average $730,000 sold price in November 2018.  But we still see a nice increase over the five year average of solds at $668,099.

For the month of December, most homes were sold in 28 days. Compared to early fall, this market is slower, but the December average fairs better than the current 5 year average of 40. 

The ratio of sold price to original list price is 98.3%, the average for the prior 5 years was 98.7%, a bit of a breath for buyers, where sellers are seeing a tiny lull in the bold market of late summer.

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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