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 Capital One Arena.
Shaw is blooming overnight, with residential construction and renovations completely changing this neighborhood.
A total of 31 homes were sold in January 2018 a bit lower than we'd like to see and lower than average for the prior 5 years, which was 40.
Currently 79 homes are on the market for the month of January, a slight increase from the prior 5 years at 72. With this ratio, we are at 1.3 Months of Supply, which is nearly identical to the 5 year average of 1.2 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 January shows us a $565,000 Sold price, which again shows the usual mid-winter slowing from the higher values in the fall. We compare this to the prior five year average of $599,540. Indicitive of a cold January, or something to watch?
An interesting indicator to watch is the average home being sold in 28 days. The 5 year average is 20 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 98.1%, and slightly lower than the 98.5% 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)