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)