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, 69 homes were sold in April 2020. Numbers dropped quite a bit from last month, and were lower than the five year average of 83, but we expected this due to COVID. Activity hit a wall when COVID came into town, but the good news is we do expect a full recovery. The expected movement down materialized in April as expected during the shutdown, but not as badly as anticipated. As the area begins to slowly open after the March 23rd shelter in place order, the market will continue to improve.
Currently there are 152 homes are on the market, this is a nice jump from the previous month, and higher than the April average for the prior 5 years of 134. More inventory equals more opportunity. The market wants to snap forward like a rubber band, so we'll continue to watch.
We are at 1.7 Months of Supply, which is a touch higher than last month and almost the same as 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.
April prices, as expected, are down from last month at a $651,000 sold price, yet still quite a bit higher than the the 5 year average of $639,700. Obviously there is more demand than inventory. Growth continues, but this zip includes emerging areas as well.
In a continued drop from last month, homes were sold in only 7 days in April. This is lower than the 5 year average of 10 days, so surprisingly, there wasn't a slowdown this month. Buyers seemed to know what they wanted and seized the moment.
A no room for buyers in April again, 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)
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