Market Report - 20003 - Washington, DC (Capitol Hill South) 2019 7

By
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 52 homes were sold in July 2019, lower than June, but higher than the 5 year average of 45.  This market could really use more. Summer is here, so we would expect these numbers continue to rise. Lots of demand in this neighborhood, so the more supply the better.

Currently 56 homes are on the market, a bit of a drop from last month, though almost the 5 year average of 58, we continue to 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 1.3 Months of Supply. A drop from last month, but still a low supply as compared to some other neighborhoods, and a tiny bit lower than the five year average of 1.4.  Surely the market is absorbing the supply very quickly.

We see pricing holding steady from the previous month, with an average $744,850 sold price in July 2019.  We see a slight increase over the five year average of solds at $698,075.

For the month of July, most homes were sold in 16 days, a few days more than the last month. A little lower than 5 year June average of 27. 

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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