Two-Year Trends in Logan Circle, Capitol Hill and Columbia Heights
Why these three neighborhoods? Because they (among others) are exciting and relevant. Logan is a rapidly-evolving community that encompasses not only the Circle, but also upper 14th Street, parts of Shaw, and the east side of Dupont. There are wide swings in home prices in Logan, primarily because there is a swath of diverse offerings. Capitol Hill is a traditional neighborhood with long-standing home ownership and retail and great proximity to federal government office buildings, the Mall, and Eastern Market and Barracks Row. Columbia Heights is anchored by the Metro, Target and other strong retail stores and is experiencing very interesting residential real estate growth.
Trends in Median Sold Properties. (I use MRIS, Redfin and realtor.com). Since October of last year, median sold properties in Logan Circle have been $554,000 (October 2015), $714,000 (March 2016) and $699,000 (July 2016). October ’16 statistics should help define the trend, if we can detect anything new. On the Hill, median sold properties are declining slightly: $800,000 to $783,000 to $780,000 (over the same months). In Columbia Heights, there are more stable increases: $528,000 to $537,000 to $550,000. Although the increases are slight, they are continually upward. Logan seems to be the area to watch since home prices went up 28% before they declined only 2% to the July mark.
Trends in Median Sold Per Square Foot. Starting from October 2014 to July 2016, the Logan Circle community has been surprisingly stable, starting at $640 and ending at $695. Capitol Hill during the same period was $548 and is now $586. Columbia Heights started at $450 in October 2014, increased to $487 in October 2015, and landed in July at $546, again, solid growth.
If you are contemplating a renovation before listing your home, check out the article by Redfin on managing your insurance. Two main factors impacting a review: the renovations will make your home more expensive to replace; and if you use energy-efficient systems, you may find discounts.
And if you are considering a move to the city, or are downsizing to a Bethesda condo, there is a nice piece on portable moving containers…worth reading prior to loading up at those pricey storage and container shops.
Finally, I have received the most feedback (why??!!) on restaurants I have (mostly) liked. A couple of weeks ago, Lynn and I a couple of friends thoroughly enjoyed Fiola Mare in Georgetown. There is a good reason for the renown of this terrific establishment. First, the service, from the front staff to the sommelier to the knowledgeable waiters was second to none. When great food is matched by great service, it is a truly fabulous experience. But the food…wow…shaved white truffle (by the gram) on our lobster ravioli, the burrata with beets, and the Halibut were incredible. A memorable evening…hopefully often repeated!
As always, if you are interested in seeing properties in Columbia Heights, Logan Circle or Capitol Hill, or anywhere in the Greater Washington area, please contact The Faulkner Team. We would love to hear from you and help you accomplish your real estate goals.
MovinInDC is a real estate neighborhood blogpost for people interested in keeping up with community growth and culture in DC. Steve Longley is a Realtor with The Faulkner Team of RE/MAX Metropolitan Realty.