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 50 homes were sold in December 2016 while the average for the prior 5 years is 54, this continues a decline from late last year, and a decline from the 5 year average.
Currently 73 homes are on the market, right on target for the December average for the prior 5 years at 73. With this ratio, we are at 1.3 Months of Supply, which is again, right on target for the 5 year average of 1.3 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 December shows us a $654,500 Sold price, which speaks to the upward pressure, and is expected to continue. We compare this to the prior five year average of $572,510.
All indicators suggest that the market is brisk, with the average home being sold in 8 days. The 5 year average is 16 days. Homes are going quick, only half of the 5 year average.
The ratio of sold price to original list price is stable at 99.5%, and nearly identical to the average of 99.4% for the prior 5 years. Sales continue to be brisk, as this neigbohood is popular.
(data from getsmartcharts; photo from www.YourBusyLife.com)