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 61 homes were sold in April 2017 while the average for the prior 5 years is 66, this is within the margin of error, and right on track for the 5 year average. A good thing.
Currently 97 homes are on the market for the month of April, a slight increase from the prior 5 years at 87. With this ratio, we are at 1.7 Months of Supply, which is again, a touch higher than the 5 year average of 1.5 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 April shows us a $639,000 Sold price, which speaks to the upward pressure, and is expected to continue. We compare this to the prior five year average of $574,200.
All indicators suggest that the market is brisk, with the average home being sold in 6 days. The 5 year average is 7 days. Homes are going quick!
The ratio of sold price to original list price is stable at 100%, and identical to the average of 100% 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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