January Real Estate Market Capitol Hill
JANUARY 2021 Neighborhood Numbers are IN for the Capitol Hill Real Estate Market!
The market never truly slowed this winter (just a bit for the holidays); low inventory and sustained low mortgage rates continue to make the market competitive for buyers. HOWEVER, rates are inching up slightly, as predicted by experts. As we enter the spring market we expect inventory to pick up from the winter months, with rates somewhat steady around 3%.
In Washington DC…
- Sellers achieved 99.9% of list price (consistently hovering near 100% for recent months).
- The median price for a home sold in January was $600,000, up 9% year-over-year.
- Adams Morgan and Capitol Hill NE had the most sales by neighborhood in the District.
Compare our Capitol Hill neighborhood with the rest of DC below:
A few highlights:
- Median sales prices in each zip code are well above the DC median of $600,000, and holding relatively steady from one year ago.
- In 20002 neighborhood (NE CapHill) inventory is up 16% from a year ago, with only 29 days on market and 100% of list price.
- In 20003 neighborhood (SE CapHill), inventory rose 17% from one year ago, with slightly longer days on the market and a 5% drop in median price.
Walkable, bike-able and neighborhood-friendly Capitol Hill remans a very desirable neighborhood for home buyers. If you are curious about the value of your home, or how to make the right strategic investments, contact us today!