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 36 homes were sold in January 2017 while the average for the prior 5 years is 43, this continues a decline from late last year, and a decline from the 5 year average.
Currently 74 homes are on the market, a bit higher than the January average for the prior 5 years at 66. With this ratio, we are at 1.3 Months of Supply, which is again, a touch higher than the 5 year average of 1.2 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 January shows us a $616,500 Sold price, which speaks to the upward pressure, and is expected to continue. We compare this to the prior five year average of $594,090.
All indicators suggest that the market is brisk, with the average home being sold in 12 days. The 5 year average is 20 days. Homes are going quick, around half of the 5 year average.
The ratio of sold price to original list price is stable at 97.7%, and nearly identical to the average of 98.6% for the prior 5 years. Sales continue to be brisk, as this neigbohood is popular.
(data from getsmartcharts; photo from www.YourBusyLife.com)
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