Market Report - 20002 - Washington, DC (Capitol Hill North) 2019 5

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, with some 40 million people annually, 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 2019, 2nd busiest station in the country.

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, 111 homes were sold in May 2019, while the average for the prior five years is 104.  Numbers jumped from last month, and are now higher than the five year average. Summer has obviously heated the market, hopefully this trend continues.  

Currently there are 147 homes are on the market, whereas the May average for the prior 5 years is 131. More inventory equals more opportunity.  

We are at 1.9 Months of Supply, which is a little higher than last month and the 5 years average of 1.7 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.

May surprisingly showed an increase to a $659,000 sold price, this is over the the 5 year average of $627,500.  This is even with the increased inventory.  Obviously there is more demand than inventory. Growth continues, but this zip includes emerging areas as well.

Homes were sold in 15 days in April which continues the trend from the previous month. The market is accellerating, something we we typically see at this time of year.  This continues to be lower than the 5 year average of 24 days.

A buyers market in May 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 100.2%.  

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

 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Real Estate Market Trends
Location:
District of Columbia District of Columbia County Washington Capitol Hill North
Groups:
Market Reports
City and State Community & Marketing Reports
Tags:
capitol hill
market reports
20002

Post a Comment
Spam prevention
Spam prevention
Post a Comment
Spam prevention

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
596,893

Claude Labbe

Realty for Your Busy Life
What's Your Preferred metro Washington DC Neighborhood ?
*
*
*
*
Spam prevention