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 construction and renovations completely changing this neighborhood.
A total of 39 homes were sold in October 2016 while the average for the prior 5 years is 53, this continues a decline from late last year, and a decline from the 5 year average.
Currently 100 homes are on the market, a bit less than the October average for the prior 5 years at 108. With this ratio, we are at 1.8 Months of Supply, which is just below the normal 5 year average of 1.9 months; nonetheless this continues to be low and indicates strong demand in this neighborhood. That continues to indicate the desirability of this neighborhood and expected upward pressure on pricing.
Activity in October shows us a $597,000 Sold price, which speaks to the upward pressure, and is expected to continue. We compare this to the prior five year average of $551,100.
All indicators suggest that the market is brisk, with the average home being sold in 7 days. The 5 year average is 10 days. This number is right on track with the 5 year average.
The ratio of sold price to original list price is stable at 100%, and nearly identical to the average of 99.7% for the prior 5 years. Sales continue to be brisk, as this neigbohood is popular.
(data from getsmartcharts; photo from www.YourBusyLife.com)