Market Report - 20003 - Washington, DC (Capitol Hill South) 2020 02

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. And FINALLY in 2019, it's now a World Series city for certain.

A total of 32 homes were sold in February 2020, nearly identical to the prior month, though a bit higher than the 5 year average of 30.  This market could really use more inventory. We are in spring, there is a lot in the news right now, so we aren't sure where these number will go, but lets hope that these numbers increase as this is an in demand neighborhood.  We all know things will change in the coming month. But let's consider this the "before' benchmark.

Currently there are 54 homes are on the market, a drop from last month, and a few higher than the 5 year average of 48. 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 small drop from last month, but still a low supply as compared to some other neighborhoods, and a tiny bit higher than the five year average of 1.2.  Surely the market is absorbing the supply very quickly.

We see another price drop from the previous month, to an average $698,000 sold price in February 2020 This price is almost identical to the five year average of solds at $699,980, can't complain, but higher is always better for sellers.

For the month of February, most homes were sold in 10 days, this is a drop from last month and identical to the 5 year February average of 10. 

The ratio of sold price to original list price is 100%, the average for the prior 5 years was 100%, again, 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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