Market Report - 20002 - Washington, DC (Capitol Hill North) 2018 12

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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, 62 homes were sold in December 2018, while the average for the prior five years is 70.  Numbers are nearly identical from last month, but still higher 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 127 homes are on the market, whereas the November average for the prior 5 years is 111. Another drop in inventory from last month, but still higher than the average. As we move into the spring we'll have to watch what this means for buyers.

We are at 1.5 Months of Supply, which is a touch higher than the 5 years average of 1.4 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.

November showed some bold prices, so we have a bit of a drop to a $610,000 sold price, however, this is still above the the 5 year average of $595,900.  Healthy growth continues, but this zip includes emerging areas as well; which helps to stablize and modulate price increases.

Homes were sold in 30 days in November which is lower than last month and lower than the 5 year average of 36 days.

Pricing continues to lean more towards a sellers market with the ratio of sold price to original list price maintaining at 99.3%, the average for the prior 5 years is 99.7%.  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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Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Claude, we are already shifting to a buyers market, the shift has been going on for the past six months. Reductions in price everywhere...Endre

Jan 25, 2019 11:14 PM #1
Rainer
382,973
Sally Crane
WMS - Unity, WI
Woodland appraisal support.

Thanks for the update, all the best to you as you get many of these properties listed and sold.

Jan 26, 2019 10:18 PM #2
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Rainmaker
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Claude Labbe

Realty for Your Busy Life
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