Market Report - 20003 - Washington, DC (Capitol Hill South) 2019 3

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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 baseball's Nationals Park. This neighborhood has also become the 'it' neigborhood, growing faster than any other in the past year.  All the residential growth has fueled demand for lots of new neighborhood amenities, which brings more people.  It certainly fees like a 'new' city.

A total of 46 homes were sold in March 2019, a bit more of a rebound from February, but barely over the 5 year average of 44.  We are seeing some additional homes on the market, but we need more. Spring is here, so we would expect these numbers continue to rise. Lots of demand in this neighborhood, so the more supply the better.

Currently 61 homes are on the market, quite a few more than last month trending upward, and higher than the prior 5 year average of 52.  We still need more opportunities 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 1.4 Months of Supply. A slight uptick from last month, but still a low supply as compared to some other neighborhoods, and very close to the five year average of 1.3.  Surely the market is absorbing the supply very quickly.

We see a another drop in sales prices from the previous month, possibly due to the extra supply of homes, with an average $791,500 sold price in March 2019.  But we still see a nice increase over the five year average of solds at $682,000.

For the month of March, most homes were sold in 14 days. Compared to early fall, this market is slower, but the February average fairs quite a bit better than the current 5 year average of 25. 

The ratio of sold price to original list price is 100%, the average for the prior 5 years was 99.8%, no breathing room at all for buyers.

Parts of this neighborhood remains quintessentially Washington, and parts are clearly 'new' Washington, which makes this a favorite among people who want to live in Washington,DC. This zip code ranked #16 in Washingtonian Magazines Great Places To Live 2019 issue, which ranked the 100 priciest zip codes in the greater Washington DC metro area.

(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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