Market Report - 20001 - Washington, DC NW (Logan--Shaw) 2018 02

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 Capital One Arena.

Shaw is blooming overnight, with residential construction and renovations completely changing this neighborhood.

 

A total of 54 homes were sold in February 2018 a nice jump from ther previous months and higher than average for the prior 5 years, which was 44.  

Currently 88 homes are on the market for the month of February, a nice increase from the prior 5 years at 81 and a jump from last month. With this ratio, we are at 1.4 Months of Supply, which is identical to the 5 year average of 1.4 months; this continues to remain 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 February shows us a $649,500 Sold price, which indicates the mid-winter slowing may be easing as prices increase. We compare this to the prior five year average of $577,500. This is likely indicitive of a move towards more competitive spring pricing.

An interesting indicator to watch is the average home being sold in 28 days.  The 5 year average is 22 days.  Homes are not selling quite as fast 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 99.9%, and a touch higher than the 99.8% 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

 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Real Estate Market Trends
Location:
District of Columbia District of Columbia County Washington
Groups:
Market Reports
City and State Community & Marketing Reports
2018 Market Reports
Tags:
logan
market reports
shaw

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
3,490,057
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Claude, you are on top of the stats for the zip of 20001, and the experienced REALTOR to contact when buyers or sellers are ready to move.

Apr 10, 2018 11:24 AM #1
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
535,757

Claude Labbe

Realty for Your Busy Life
What's Your Preferred metro Washington DC Neighborhood ?
*
*
*
*
Spam prevention