Market Report - 20001 - Washington, DC NW (Logan-PennQtr-Shaw) 2016 12

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 50 homes were sold in December 2016 while the average for the prior 5 years is 54, this continues a decline from late last year, and a decline from the 5 year average.

Currently 73 homes are on the market, right on target for the December average for the prior 5 years at 73. With this ratio, we are at 1.3 Months of Supply, which is again, right on target for the 5 year average of 1.3 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 December shows us a $654,500 Sold price, which speaks to the upward pressure, and is expected to continue. We compare this to the prior five year average of $572,510.

All indicators suggest that the market is brisk, with the average home being sold in 8 days.  The 5 year average is 16 days.  Homes are going quick, only half of the 5 year average.

The ratio of sold price to original list price is stable at 99.5%, and nearly identical to the average of 99.4% 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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Topic:
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Location:
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
2,640,620
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

I've always seen the fact that DC is so well kept insert areas. I think this report can do even better next quarter. Good data!

Jan 14, 2017 11:58 PM #1
Rainmaker
2,851,826
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Claude. What a market that has sustained iteself at this level for over five years! Wow! Enjoy your day!

Jan 15, 2017 06:28 AM #2
Rainmaker
1,121,551
Ryan Huggins - Thousand Oaks, CA
www.HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

I love seeing what other areas have in the way of prices and stats.  Thanks for sharing!

Jan 15, 2017 10:42 AM #3
Rainmaker
2,884,752
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Claude the picture of Logan Circle reminded me of when we lived in Boston, MA 20+ years ago...looked like the Back Bay...Endre

Feb 05, 2017 08:29 PM #4
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Rainmaker
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Claude Labbe

Realty for Your Busy Life
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