Market Report - 20002 - Washington, DC (Capitol Hill North) 2019 2

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, 53 homes were sold in February 2019, while the average for the prior five years is 62.  Numbers are just a little lower than last month, and are lower than the five year average. The government shutdown appears to continue to impact the market.  As supply continues to come online this spring, 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 112 homes are on the market, whereas the February average for the prior 5 years is 108. There are a fewer homes in inventory than last month, but a few 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 1.4 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.

February showed some bold prices, and this month shows a slight increase to a $607,500 sold price, however, this is still quite a bit above the the 5 year average of $552,400.  Healthy growth continues, but this zip includes emerging areas as well; which helps to stablize and modulate price increases.

Homes were sold in 36 days in February which is quite a bit lower than last month. Perhaps the faster market we typically see in spring is showing a little early?  This is also almost at the 5 year average of 37 days.

Pricing is lean for a buyers market in February, with the ratio of sold price to original list price maintaining at 100%, the average for the prior 5 years is 100%.  

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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District of Columbia District of Columbia County Washington Capitol Hill North
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Market Reports
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2018 Market Reports
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