Market Report - 20001 - Washington, DC NW (Logan-PennQtr-Shaw) 2015 04

By
Real Estate Agent with Real Living | At Home 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 Verizon Center.

Shaw is blooming overnight, with residential costruction and renovations completely changing this neighborhood.

 

In a nutshell, 69 homes were sold in April 2015,while the average for the prior 5 years is 62, refreshingly this is healthy and normal.

Currently 85 homes are on the market, whereas the April average for the prior 5 years is 95, which shows April 2015  being slightly shy.

With this ratio, we are at 1.4 Months of Supply, which while also a bit shy of the prior 5 year average of  1.9, itself isn't very high and could surely use more construction, even as this neighborhood has so much grown in the recent several years.  The demand would still support more.

 

This month's activity shows us a $549,000 Sold price, surely on the upside of the prior five year average of $509,600, though attenuated by the increased number of units this neighborhood has absorbed.

All all indicators would sugges, the market is brisk with the average home being sold in 7 days, 5 year average being 16 which at least allowed buyers a chance to think.

While the ratio of sold price to original list price is 100.0%, the average for the prior 5 years was 99.0%. This is brisk and will continue to be as the neighborhood simply appeals to people.

(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

 

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Rainmaker
1,143,921
David Shamansky
US Mortgages - David Shamansky - Highlands Ranch, CO
Creative, Aggressive & 560 FICO - OK, Colorado Mtg

Thats a good purchase price and for sellers to get 100% of list is even better.

Thats a healthy market

May 31, 2015 01:01 PM #1
Rainmaker
596,893
Claude Labbe
Real Living | At Home - Washington, DC
Realty for Your Busy Life

David Shamansky Markets like this do make appraisals easier too, which helps lenders sleep easier, as well as the rest of us.

May 31, 2015 01:12 PM #2
Rainmaker
4,066,666
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Claude, you sure know how to relay how the market is doing in DC, and shows you are the expert to call if anyone needs more information!

Jun 03, 2015 08:50 AM #3
Rainmaker
596,893
Claude Labbe
Real Living | At Home - Washington, DC
Realty for Your Busy Life

Joan Cox We are just slightly more sane than Denver at the moment.

Jun 03, 2015 11:04 AM #4
Rainmaker
4,066,666
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Claude, it is going nuts around here!   Could use a slight lull!

Jun 03, 2015 11:11 AM #5
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Rainmaker
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Claude Labbe

Realty for Your Busy Life
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