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 63 homes were sold in October 2018, a nice bump from last month, and a bit higher than the average for the prior 5 years, at 61. These numbers are almost average for the October market.
Currently there are 169 homes are on the market for the month of October, a continued trend upward from the previous month, and a good bit higher than the 5 year average of 126. With this ratio, we are at 2.8 Months of Supply, which is a bit higher than the 5 year average of 2.1 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 October shows us a $715,000 Sold price, a good bit higher 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 $644,900 and so we continue to be a bit higher than average. Can the market keep moving up? It bears watching.
Days on market is currently unavailable due to the migration from Matrix to Bright. We hope this metric will be available next month. The 5 year average is currently 11 days.
The ratio of sold price to original list price is stable at 100%, and identical to 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)