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 70 homes were sold in March 2018 a third higher than the previous month and quite a bit higher than average for the prior 5 years, which was 57.
Currently 96 homes are on the market for the month of March, another nice increase from the previous month and higher than the 5 year average of 91. With this ratio, we are at 1.5 Months of Supply, which is identical to the 5 year average of 1.5 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 March shows us a $662,950 Sold price, continuing the upward march of prices for spring. We compare this to the prior five year average of $607,320. This confirms last months indication of a move towards more competitive spring pricing.
An interesting indicator to watch is the average home being sold in 6 days. The 5 year average is 10 days. This is a big decrease from last month and tells us that demand is high. Keep watching.
The ratio of sold price to original list price is stable at 100%, and a touch higher than the 99.9% 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)