Market Report - 20001 - Washington, DC NW (Logan--Shaw) 2018 12

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 57 homes were sold in December 2018, a nice rebound from last month, and quite a bit lower thanright at average for the prior 5 years, at 56.  We would expect these numbers to be higher, we'll continue to watch this. 

Currently there are 80 homes are on the market for the month of December, a big drop from the previous month, but, still higher than the 5 year average of 75. With this ratio, we are at 1.4 Months of Supply, which is a bit higher than the 5 year average of 1.3 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 December shows us a $625,000 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 $643,450 and so we see a bit of a drop from the average. Have we plateaued? It bears watching.

The average home was sold in 37 days.  The 5 year average is 43 days.  A little more than average and a fast market. 

The ratio of sold price to original list price is stable at 98.2%, and identical to the 98.8% average for the prior 5 years.   Sellers are enjoying an advantage to their buyers, but not by much.  This still 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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