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 Capital One Arena.
Shaw is blooming overnight, with residential construction and renovations completely changing this neighborhood.
In a big drop from last month, a total of 32 homes were sold in September 2019, and even fewer homes yet than the 5 year average of 48. We'll continue to watch numbers.
Perhaps this month is making up for last month? Currently there are 133 homes on the market, this is pretty big increase from the previous month, and even a little above the 5 year average of 122. With this ratio, we are at 2.3 Months of Supply, which is just a little higher than the 5 year average of 2.1 months and an increase from last month; this continues to remain 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 September shows us a $621,250 Sold price, a drop from last month. We compare this to the prior five year average of $635,750 so close to the average sold price.
The average home was sold in 18 days. The 5 year average is 36 days. This identical to last months numbers, though a drop from the 5 year average indicating a fast market. Inventory is not keeping up with demand.
The ratio of sold price to original list price is stable at 100%, no wiggle room for buyers compared to the 99.7% average for the prior 5 years. Sellers are enjoying an advantage to their buyers. This still remains a wonderful neigborhood to call home.
This neighborhood bears little resemblance to that of even a decade ago, even as it struggles to maintain reminders of it's role in local history, and yes, this is a favorite among people who want to 'feel' their living in Washington,DC. This zip code ranked #24 in Washingtonian Magazines Great Places To Live 2019 issue, which ranked the 100 priciest zip codes in the greater Washington DC metro area.
(data from getsmartcharts; photo from www.YourBusyLife.com)
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