Market Report - 20001 - Washington, DC NW (Logan--Shaw) 2018 09

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 43 homes were sold in September 2018, a drop from last month, and considerably lower than the average for the prior 5 years, which was 51.  September slowdown and a temporary glitch or a downward trend, we'll have to see. 

Currently there are 154 homes are on the market for the month of October, a nice jump from the previous month, and higher still than the 5 year average of 122. With this ratio, we are at 2.5 Months of Supply, which is a bit higher than the 5 year average of 2 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 September shows us a $635,000 Sold price, a touch lower than last month and holding steady to the higher prices we saw earlier in 2018. We compare this to the prior five year average of $616,200 and so we continue to be a bit higher than average. Can the market keep moving up? It bears watching.

The average home was sold in 7 days.  The 5 year average is 11 days.  A little less than average and a fast market.

The ratio of sold price to original list price is stable at 100%, a little higher than the 99.7% 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)

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

 

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2018 Market Reports
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