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 36 homes were sold in February 2016 while the average for the prior 5 years is 40, this is a slight decrease over the average and a bit of a decrease from earlier in the year, slightly not normal.
Currently 81 homes are on the market, a bit more than the February average for the prior 5 years at 77. With this ratio, we are at 1.4 Months of Supply, which is close to the normal 5 year average of 1.5 months, this continues to be low and indicates strong demand in this neighborhood. That coupled with the decrease in number of homes on the market continues to indicate the desirability of this neighborhood and expected upward pressure on pricing.
February's activity shows us a $595,750 Sold price, which speaks to the upward pressure, and is expected to continue. We compare this to the prior five year average of $507,100.
All indicators suggest that the market is brisk, with the average home being sold in 16 days. The 5 year average is 27 days. This number is lower than the 5 year average, and may move lower yet as we move into spring.
The ratio of sold price to original list price increased a little to 99.7%, the average for the prior 5 years was a touch lower at 99.4%. Honestly, I would have expected closer to 100%. Sales continue to be brisk, as this neigbohood is popular.
(data from getsmartcharts; photo from www.YourBusyLife.com)