Market Report - 20002 - Washington, DC (Capitol Hill North) 2021 7

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.  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, 119 homes were sold in July 2021.  A bit of a decrease in solds again from the previous month, though numbers continue to remain higher than the five year average of 96. As expected with COVID, the numbers are up and down; regardless, the recovery is still doing well.  Perhaps the market will remain stable and improve going forward, we will continue to watch.

Currently there are 187 homes are on the market, less than the previous month, but still higher than the July average for the prior 5 years of 157. Up and down, up and down, we wonder when the market will level. We'll watch for the trend.  More inventory equals more opportunity.  

We are at 1.5 Months of Supply, which is a little less than the last month and a little less than the 5 year average of 1.7 months of supply.  Numbers continue to drop from earlier in the year making this market fast. Let's see how soon we get to these numbers again, be that 1-2-3 or x months.

July prices were a little lower than last month as we had a $725,000 sold price, the better news is that numbers were consistently above the the 5 year average of $684,787.  Obviously there is more demand than inventory. Growth continues, but this zip includes emerging areas as well.

Median days on market was stable from last month as homes were sold in 9 days in July.  This is lower than the 5 year average of 12 days.  Buyers seemed to know what they wanted and seized the moment. 

A no room for buyers in July again, with the ratio of sold price to original list price maintaining at 100%, the average for the prior 5 years is 97.7%.

 

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

 

Comments (2)

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

Washington D.C. (Capitol Hill North) home buyers and sellers are sure to value your real estate market report, Claude.

Aug 29, 2021 07:40 PM
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

Thanks for sharing your market update with us. Buyers & sellers in your area would benefit from your services. Have a great day!

Sep 01, 2021 02:48 PM