As we enter the spring housing market, UrbanTurf is starting its annual look at the neighborhood markets around the DC region. Today, we head to Capitol Hill.
The Capitol Hill housing market may provide a good sense of what is happening across the larger regional housing market. Home sales are down in the neighborhood this year compared to 2022 while prices, particularly for larger properties on the Hill, haven't changed much. The number of new listings to come online has been minimal at the beginning of the year, however that could change in the coming weeks as the seasonal market gets going.
Below, we picked out some statistics for the neighborhood that are illustrative of what is happening.
- $1.049 million -- The median home price on Capitol Hill so far in 2023, down 4% compared to last year.
- $1.641 million -- The average home price for an attached house with 4+ bedrooms, essentially the same as last year.
- 46 -- The number of homes sold so far in 2023, down 35% compared to last year.
- 36 -- The average number of days that homes are spending on the market, up 56% compared to last year.
Photo courtesy of HD Bros Cara Russo.
This article originally published at https://dc.urbanturf.com/articles/blog/sales_down_prices_flat_the_capitol_hill_housing_market_by_the_numbers/20766.
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