Everyone knows that Capitol Hill is experiencing an amazing comeback. The proximity of the Hill to the new Amazon HQ is putting a ton of pressure on rentals and homes. Our personal perspective is that the hill has seen about a 10% increase in prices from last year. Well let’s test that concept.
Looks like the condo market is hot hot hot. Single family homes on the Hill have a slower appreciation due to the price point. Typically the above $700K price point moves up slower due to the fewer number of buyers. Townhouses seem to be having an amazing year.
Is Capitol Hill in a condo bubble?
Looking at the year overall the Divas have personally seen the average 1 bedroom co-op go for $180-200K in 2012 to $225-275K in the last six months.