Capitol 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. If you were there today, you'd see no cabs, and no people inside (or, truly just a handful, not 100's, but mere dozens).
This month, 97 homes were sold in March 2020. Numbers made another nice jump from last month and are higher yet than the five year average of 87. Heading into spring, activity has increased. Though we expected some movement down from February, that didn't seem to materialize. Perhaps a fury of activity before the storm? The shelter in place order put into effect on March 23rd will change the real estate landscape for the forseeable future, so next months numbers will likely be very different.
Currently there are 138 homes are on the market, this is an increase from the previous month, and higher than the March average for the prior 5 years of 130. More inventory equals more opportunity. Expect this to hold/pause for a while now.
We are at 1.6 Months of Supply, which are a little higher than last month and identical to the 5 year 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. Let's see how soon we get to these numbers again, be that 1-2-3 or x months.
March prices are up just a little from last month at a $699,900 sold price, yet still quite a bit higher than the the 5 year average of $633,710. Obviously there is more demand than inventory. Growth continues, but this zip includes emerging areas as well.
In a precipitous drop from last month, homes were sold in only 9 days in March. This is lower than the 5 year average of 12 days, so there isn't a slowdown this month for sure. Perhaps buyers and sellers forsee whats coming down the pipeline and are trying to get ahead of the coming storm.
A no room for buyers in March, 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)
Comments(1)