Logan Circle DC June Market Report

By
Real Estate Agent with Coldwell Banker Residential Brokerage Districtre.com
http://actvra.in/DVm

Logan Circle DC June Market Report

Logan Circle DC real estate market report June 2012

Newport Tower Condos, Logan Circle DC


Logan Circle Dc June Market Report:

High Activity and the End of the Logan/Thomas Circle Buyer's Market?


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There was good news for buyers in the 20005 zip code during June 2012:

 

Median sold price for Condo & Coop properties was $415,746, that's down 13.3% from May and a decrease of 0.5% from June 2011.

 

Buyers took advantage of aggressive pricing. Average days on market for units sold in June was 25 days, 61% below the 5-year June average of 65 days.  And there was a 33.3% month-over-month increase in new contract activity.

 

The resulting Contract Ratio was 54% higher than the 5-year June average of 0.56. A higher Contract Ratio signifies a relative increase in contract activity compared to supply, and indicates the market is moving from a buyer's to a seller's market.


More on Logan Circle DC June Market Report

Here are the numbers from RBI (Real Estate Business Intelligence):

20005 Logan Cir/Thomas Circle, DC

Statistic

Values

YoY

MoM

Total Sold Dollar Volume

$11,506,593

+42.78%

+85.5%

Closed Sales

24

+26.32%

+100%

Median Sold Price

$415,746

-0.54%

-13.26%

Avg Sold Price

$479,441

+13.03%

-7.25%

Avg Days on Market

24 days

-74.47%

+26.32%

Avg Sold to Orig List Ratio

97.73%

+4.38%

-1.69%

 

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Rainmaker
957,854
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Susan, Newport Tower Condo's are in a great location. Nice market report.

Jul 15, 2012 05:49 AM #1
Rainmaker
690,600
Eileen Hsu
Douglas Elliman Real Estate - Manhattan, NY
LICENSED REAL ESTATE SALESPERSON

This is a great resource for any buyers or sellers looking at the homes for sale in Logan Circle, DC market.

Jul 15, 2012 07:12 AM #2
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Rainmaker
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