Market Report - 20001 - Washington, DC NW (Logan-PennQtr-Shaw) 2016 11

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 construction and renovations completely changing this neighborhood.

 

A total of 40 homes were sold in November 2016 while the average for the prior 5 years is 48, this continues a decline from late last year, and a decline from the 5 year average.

Currently 91 homes are on the market, a bit less than the November average for the prior 5 years at 94. With this ratio, we are at 1.6 Months of Supply, which is just below the normal 5 year average of 1.7 months; nonetheless this continues to be 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 November shows us a $675,000 Sold price, which speaks to the upward pressure, and is expected to continue. We compare this to the prior five year average of $572,696.

All indicators suggest that the market is brisk, with the average home being sold in 11 days.  The 5 year average is 12 days.  This number is right on track with the 5 year average.

The ratio of sold price to original list price is stable at 100%, and nearly identical to the average of 99.8% for the prior 5 years.   Sales continue to be brisk, as this neigbohood is popular.

(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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District of Columbia District of Columbia County Washington
Groups:
City and State
Market Reports
2016 Market Reports
Tags:
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market reports
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Rainmaker
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Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Southlake, TX
Selling Homes Changing Lives

Good Morning, Claude Labbe - There's something endearing about quintessential architecture. Though the political administration changes, these old buildings are always in style and never boring or controversial. 

May you have the best year in Real Estate ever! 

 

Jan 10, 2017 05:15 AM #1
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Rainmaker
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Claude Labbe

Realty for Your Busy Life
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