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 78 homes were sold in May 2018 a few higher than the previous month and a bit higher than average for the prior 5 years, which was 73.
Currently there are 135 homes are on the market for the month of April, another increase from the previous month and higher than the 5 year average of 105. With this ratio, we are at 2.1 Months of Supply, which is a bit higher than the 5 year average of 1.7 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 May shows us a $707,500 Sold price, bumping back up to the higher prices we saw earlier in 2018. We compare this to the prior five year average of $673,400. Can the market keep moving up? It bears watching.
The average home was sold in 8 days. The 5 year average is 8 days. Right at average.
The ratio of sold price to original list price is stable at 100%, right at the 100.2% average for the prior 5 years. Sellers are seeing an advantage to their buyers, but this remains a wonderful neigborhood to call home.
(data from getsmartcharts; photo from www.YourBusyLife.com)