This is the neigborhood in Washington, DC. Everyone wants live here, or to come here to eat and enjoy the city.
Logan Circle is the quintessential NW DC neighborhood. It simply looks and feels right, without the attitude one finds with the usually older & more established NW neighborhoods.
Penn Quarter, closer to downtown/ Penn. Ave., has the nightlife, clubs and Verizon Center.
Shaw is blooming overnight, with residential costruction and renovations completely changing this neighborhood.
In a nutshell, 68 homes were sold in May 2015, while the average for the prior 5 years is 62, refreshingly this is healthy and normal.
Currently 92 homes are on the market, whereas the May average for the prior 5 years is 97, which shows May 2015 being slightly shy, but healthy still.
With this ratio, we are at 1.5 Months of Supply, which while also a bit shy of the prior 5 year average of 2.0, itself is very low, and essentially the same as the prior month of April. So, we surely need more inventory to meet strong demand in this neighborhood.
This month's activity shows us a $702,000 Sold price, a very strong number compared to the prior five year average of $554,070.
All all indicators would suggest, the market is brisk with the average home being sold in 6 days, 5 year average being 12 which makes one wonder when we'll see a revert up to double digits.
While the ratio of sold price to original list price is 100.0%, the average for the prior 5 years was 99.3%. This is brisk and will continue to be as the neighborhood simply appeals to people.
(data from getsmartcharts; photo from www.YourBusyLife.com)
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