Market Report - 20002 - Washington, DC (Capitol Hill North) 2019 8

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, 97 homes were sold in August 2019.  Numbers really jumped from last month and are higher than the five year average of 88. End of summer heat is scorching the market!    

Currently there are 164 homes are on the market, higher than the previous month and quite a bit higher than the August average for the prior 5 years of 128. More inventory equals more opportunity.  

We are at 2.2 Months of Supply, which is a touch higher than last month and higher than the 5 years average of 1.6 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.

August prices dropped a little from last month to a $665,000 sold price, this is still over the the 5 year average of $614,790.  Obviously there is more demand than inventory. Growth continues, but this zip includes emerging areas as well.

Homes were sold in 14 days in August which is a decrease by half from the previous month. The market is heating a bit, something normal for this time of year.  This continues to be quite a bit lower than the 5 year average of 30 days, the market is hot.

No room for buyers in August, 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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