Capitol Hill Market Update
While the national real estate market is weathering some changes and potential slowdowns, we always look closely at what’s happening in the greater Washington Metro area, and especially in the micro-climate of Capitol Hill.
With September numbers calculated for 2018, here are some Year Over Year changes from 2017 to give us insight into what’s happening in the market “right now” in 20002 and 20003:
- There is brisk turnover in the market with active listings and new listings almost equal. Being prepared to make an offer, and working closely with your buyer’s agent, are critical components to winning in this market. Ask us how!
- List price and sales price are at about 100%. Working with the best listing agent to come up with a strategic list price, or making the most competitive offer with your buyer’s agent, are critical factors in choosing your Real Estate Team.
|Units Sold||Median Sales Price||Inventory||New Listings||Days on Market|
|Sep-18||vs 2017||Sep-18||vs 2017||Sep-18||vs 2017||Sep-18||Sep-18|
|Capitol Hill NE||60||13%||$594,250||$605,000||197||11%||168||29|
|Capitol Hill SE||31||3%||$725,000||$712,500||85||23%||95||20|
Give us a call to talk about what the latest data tells about the market, if it’s a good time to sell, move up, or get into the market for the first time. Our experience and know-how can help make this process as easy as possible, even in a competitive market.