Market Report - 20002 - Washington, DC (Capitol Hill North) 2019 1

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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, 52 homes were sold in January 2019, while the average for the prior five years is 56.  Numbers have dropped a little from last month, and are a little lower than the five year average. There were several events such as the government shutdown that impacted the market.  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 there are 130 homes are on the market, whereas the January average for the prior 5 years is 110. There are a few more homes in inventory from last month, and higher than the average so we can't complain. As we move into the spring we'll have to watch what this means for buyers.

We are at 1.6 Months of Supply, which is a little higher than last month, and also 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.

January showed some bold prices, so we have a bit of a drop to a $600,000 sold price, however, this is still above the the 5 year average of $597,510.  Healthy growth continues, but this zip includes emerging areas as well; which helps to stablize and modulate price increases.

Homes were sold in 51 days in January which is quite a bit higher than last month and indicitave of the slow down we experienced during the government shutdown.  This is also higher than the 5 year average of 49 days.

Pricing leaned a little more towards a buyers market than a sellers market in January, with the ratio of sold price to original list price maintaining at 97.3%, the average for the prior 5 years is 98.7%.  

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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Rainer
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Sara Wagner
Woodland Management Service - Adams, WI
The Forestland Experts!

Thanks for sharing the information on this community, I hope you sell many of these homes.

Feb 26, 2019 11:02 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 so  have the politicians gotten used to the idea that there is a new Sheriff in town?:) How has that affected your market looking back almost two years, Endre

Feb 26, 2019 11:13 PM #2
Rainer
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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.

Feb 27, 2019 06:40 PM #3
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Rainmaker
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Claude Labbe

Realty for Your Busy Life
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