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)