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 69 homes were sold in July 2018, this continues a bit of a drop from last month, and less than the average for the prior 5 years, which was 70. A hiccup maybe, but one more month makes a trend.
Currently there are 115 homes are on the market for the month of August, a tiny drop from the previous month, but higher than the 5 year average of 101. With this ratio, we are at 1.9 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 July shows us a $648,000 Sold price, almost identical to last month and bumping back up to the higher prices we saw earlier in 2018. We compare this to the prior five year average of $643,380 and we are close to average. Can the market keep moving up? It bears watching.
The average home was sold in 13 days. The 5 year average is 10 days. A touch over average.
The ratio of sold price to original list price is stable at 100%, right at the 100% 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)