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Market Report - 20001 - Washington, DC NW (Logan--Shaw) 2021 1

By
Real Estate Agent with RLAH / @properties DC / MD / VA

 

[Logan Circle Homes 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 the place to be and the neighborhood has a great feel of new & old woven together.

 

Numbers dropped a bit from last month, with a total of 59 homes sold in January 2021. We are still quite a bit over the 5 year average of 43.  It seems 2020 had a mind of it's own, so we'll continue to watch numbers as we move from winter further into spring.  We can't predict all the changes, so we'll just have to watch the market for cues. 

Currently there are 161 homes on the market, a few less than the previous month, but still nicely over the 5 year average of 101. Will numbers continue to increase, or will they dip again in the crazy market that has happened nearly every month since the lockdown ended. With this ratio, we are at 2.4 Months of Supply, which is higher than the 5 year average of 1.6 months, and about the same as last month; this still continues to remain low and indicates strong demand in this neighborhood even with COVID.  That continues to indicate the desirability of this neighborhood and expected upward pressure on pricing. 

Activity in January shows us a $755,000 Sold price, a nice increase in prices from last month, another yoyo, but we will watch what next month will hold. Prices will likely continue these movements because COVID is still here, so we just need to be prepared. The prior five year average is $633,100. 

The average home was sold in 27 days.  This is a little higher than last months numbers again, but nearly the same as the 5 year average of 28 days. This continues to indicate that the market is fast, those who were looking for a home didn't take long to decide.  This doesn't indicate a slowdown, and again, we'll just have to watch the next month. 

The ratio of sold price to original list price is 99.1%, barely any wiggle room for buyers and about the same as compared to the 98.7% average for the prior 5 years.   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)

Posted by

Claude Labbe, Realty for Your Busy Life

Real Living | At Home
11 Dupont Circle #650
Washington, DC 20036
(202) 518-8781 bus / (703) 868-7774 mobile
claude@labbe.com

 

Comments (2)

Richard Weeks
Dallas, TX
REALTOR®, Broker

Thanks for sharing your market update.  Great information for buyers and sellers in your area.

Feb 25, 2021 02:49 AM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

Washington D.C.  home buyers and sellers are sure to value your real estate market report, Claude!

Feb 27, 2021 07:16 PM