Market Report - 20002 - Washington, DC (Capitol Hill North) 2019 3

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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, 74 homes were sold in March 2019, while the average for the prior five years is 81.  Numbers are just higher than last month, but still 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 116 homes are on the market, whereas the March average for the prior 5 years is 118. There are a more homes in inventory than last month, but still lower than the average. We need more inventory.  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 little higher than last month, but right at the 5 years average of 1.5 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.

March continued to show some bold prices, and this month shows a hefty price increase to a $715,000 sold price, this is quite a bit above the the 5 year average of $610,730.  Healthy growth continues, but this zip includes emerging areas as well; which helps to stablize and modulate price increases.

Homes were sold in 18 days in March which is quite a bit lower than last month. The market is accellerating, something we we typically see in spring showed up early.  This is quite a bit lower than the 5 year average of 33 days.

A buyers market in March just doesn't exist, 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.This zip code ranked #27 in Washingtonian Magazines Great Places To Live 2019 issue, which ranked the 100 priciest zip codes in the greater Washington DC metro area.  With confidence, expect this zip to move up the chart in the next year(s) as the NOMA/Union Market continue to grow and the demand is challenged to be met.

(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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Real Estate Market Trends
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District of Columbia District of Columbia County Washington
Groups:
Market Reports
City and State Community & Marketing Reports
2018 Market Reports
Tags:
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market reports
20002

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Rainmaker
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Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

I love the regal royal old time cool vibe! Could be really fun stuff for somebody!

Apr 27, 2019 10:03 PM #1
Rainmaker
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Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Southlake, TX
Selling Homes Changing Lives

Claude Labbe - I'm not a resident of D.C. but if I was moving there, I would need you as my compass and I would pay attention to what I could learn from you about the market values in your area. 

You do a GREAT job, clearly showing me you know and understand your market. 

May 08, 2019 03:19 PM #2
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Rainmaker
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Claude Labbe

Realty for Your Busy Life
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