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)