Home Price Watch: Capitol Hill

• April 16, 2014

by UrbanTurf Staff

Home for sale on 11th Street NE

For years, UrbanTurf has been hoping that RealEstate Business Intelligence (RBI) would figure out a way to start providing housing statistics not just for zip codes in the DC region, but also specific neighborhoods as well.

Well, recently the folks over at RBI started offering that option to some of its customers. Specifically, housing statistics for over 7,000 legal and advertised subdivisions (neighborhoods) around the region are now available. (Any subdivision that averages at least six sales a year is included.)

UrbanTurf gave the new feature a bit of a test drive this week by looking at 2014 statistics in the advertised subdivision for Capitol Hill. Below is a chart with Capitol Hill housing data followed by some interesting highlights that we picked out based on the stats. Our plan is to get a little more in-depth every week with each neighborhood we analyze.

Click to enlarge.

• While sales volume dipped by about 13 percent so far this year, the average and median sales prices rose on Capitol Hill when compared to 2013. The average sold price increased 6.7 percent ($695,971) and the average median price rose 9.4 percent ($670,00).
• Home sellers believe that they can get more this year, as evidenced by the increase in average list price, from $651,144 last year to $699,244 this year.
• The average sales price to original list price ratio has dropped off between 2013 and 2014. Last year at this time it was just over 100%, a sign that homes were regularly selling for over their asking price. This year, that percentage stands at about 97.
• Of the 79 units sold so far this year, nine were purchased in all-cash transactions.

This article originally published at http://dc.urbanturf.com/articles/blog/home_price_watch_capitol_hill/8365