Market Report - 20001 - Washington, DC NW (Logan--Shaw) 2017 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 54 homes were sold in December 2017 a touch lower than average for the prior 5 years, which was 56, showing the usual December slowdown.  

Currently 81 homes are on the market for the month of November, a slight increase from the prior 5 years at 78. With this ratio, we are at 1.3 Months of Supply, which is exactly as the 5 year average of 1.3 months; 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 $717,500 Sold price, which again shows the usual December slowing from the higher values in the fall. We compare this to the prior five year average of $617,210.

An interesting indicators to watch is the average home being sold in 27 days.  The 5 year average is 17 days.  Homes are not selling here as compared to other neighborhoods which are much more closely aligned with the prior 5 year average.  Keep watching.

The ratio of sold price to original list price is stable at 98.3%, and lower than the 99.1% average for the prior 5 years.   Sellers are perhaps a bit too optimistic and buyers more savvy, but this remains a wonderful neigborhood to call home.

(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
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2018 Market Reports
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Rainmaker
1,363,290
Jeremy K. Frost
Keller Williams Realty - Dripping Springs, TX
Associate Broker, CNE, CRS, ePro, PSA

Always good to be in the loop. Thank you for sharing and best of luck!

Feb 01, 2018 06:38 AM #1
Rainmaker
4,198,507
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Good morning Claude.  Thanks for the information and update about the Washington, DC NW real estate market.

 

Feb 04, 2018 05:35 AM #2
Rainmaker
1,497,543
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good morning Claude - nice to read a market update on this famous area of DC.

Feb 19, 2018 08:23 AM #3
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Rainmaker
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Claude Labbe

Realty for Your Busy Life
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