Market Report - 20002 - Washington, DC (Capitol Hill North) 2020 02

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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, 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, 78 homes were sold in February 2020.  Numbers made a nice jump from last month and are higher yet than the five year average of 68. Heading into early spring, activity has increased.    Now lets see how this was the benchmark as we see the changes in the coming month. But let's consider this the "before' benchmark.

Currently there are 127 homes are on the market, this is a drop from the previous month, though a bit higher than the January average for the prior 5 years of 117. More inventory equals more opportunity.  

We are at 1.4 Months of Supply, which are a little lower than last month and identical to the 5 year average of 1.4 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.

February prices are down from last month at a $635,000 sold price, yet still quite a bit higher than the the 5 year average of $577,900.  Obviously there is more demand than inventory. Growth continues, but this zip includes emerging areas as well.

Homes were sold in 30 days in February which is up a good bit more than the previous month.  This is also higher than the 5 year average of 22 days, a slowdown coming?

A small bit of room for buyers in February, with the ratio of sold price to original list price maintaining at 99.5%, the average for the prior 5 years is 99.9%.  

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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Rainmaker
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Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

Washington D.C. home buyers and sellers are sure to value your real estate market report, Claude. 

Apr 02, 2020 07:02 PM #1
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Rainmaker
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Claude Labbe

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