Market Report - 20002 - Washington, DC (Capitol Hill North) 2019 4

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, 82 homes were sold in April 2019, while the average for the prior five years is 87.  Numbers are a little higher than last month, but still lower than the five year average. A slow recovery from the government shutdown? A trend that bears watching in this neighborhood.  As we move into summer, we would expect some price adjustments to balance out, but we'll need to see more inventory for that to happen.

Currently there are 126 homes are on the market, whereas the April average for the prior 5 years is 121. There are a few more homes than last month, but we need more inventory.  As we move into summer 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 the 5 years average of 1.5 months of supply.  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.

April surprisingly showed a price drop to a $648,750 sold price, this is almost at the the 5 year average of $624,300.  Growth continues, but this zip includes emerging areas as well; perhaps those are stablizing and moderating price increases?

Homes were sold in 13 days in April which continues the trend from the previous 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 27 days.

A buyers market in April 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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