| Market Report | By Anslie Stokes

2018 is in the books and overall it proved to be a good one for the greater Capitol Hill area (ZIP Codes 20002 and 20003) real estate market. The market slowed down in the latter half of the year and in the fall there were regularly multiple listings holding open houses, several price reductions, and several listings that failed to sell. The market was solid but it did not keep pace with 2017.

While some Capitol Hill sellers make intra-neighborhood moves, many trade up to upper NW neighborhoods such as Glover Park, AU Park and Chevy Chase, DC.

2018 highlights for single family home sales:

  • The 3 highest sales were all at Heritage Row, just off Mass AVE NE between Union Station and Stanton Park, and closed between $2,375,000 and $2,475,000
  • The lowest sale was a 1 bedroom house on Meigs PL NE in Trinidad that closed for $200,000
  • The average days on market was 31 which included 27 sales logged as 0 days which means the contract was accepted by the seller before the listing officially hit the market.
  • 431 days was the longest it took for a single family home to go under contact.

2018 highlights for condos and coops:

  • The highest sale was a 9,500sf condo at The Pierce School that listed for $3,999,000 and closed for $2,300,000. It had a private roof deck and 35ft ceilings
  • The lowest sale was a 1 bedroom condo in Trinidad that closed for $144,900
  • The average days on market was 41 days
  • Of the 631 condo and coop sales, 177 listings went under contract in 14 days or less

For more information on Capitol Hill real estate, email us right here: Anslie@TheStokesGroup.com. We are happy to discuss the Capitol Hill real estate market in more detail along with your needs.

 

The Stokes Group is a team of dedicated professionals who have passion for the real estate business and will advocate for our clients with the utmost honesty, integrity, and confidentiality. We believe in building solid relationships with our clients and that starts by getting to know who we are. Follow us on Facebook and Instagram.

 

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