Market Report - 20001 - Washington, DC NW (Logan--Shaw) 2019 3

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 55 homes were sold in March 2019, a nice bump up from last month, though lower than the average for the prior 5 years, at 59.  The government shutdown lingers as the market tries to recover.  We would expect these numbers to be higher, and they'll likely rebound as we move into spring. We'll continue to watch this. 

Currently there are 94 homes on the market for the month of March, this is a slight dip from the previous month, and right at the 5 year average of 92. With this ratio, we are at 1.6 Months of Supply, which is a bit higher than the 5 year average of 1.5 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 March shows us a $710,000 Sold price, a continuing to move up from last month and holding steady to the higher prices we saw earlier in 2018. We compare this to the prior five year average of $655,820 and so we see an increase from the average. Have we plateaued? It bears watching.

The average home was sold in 20 days.  The 5 year average is 26 days.  Nearly average for this time of year and a fast market. 

The ratio of sold price to original list price is stable at 100%, with no wiggle room at all for buyers compared to the 100% average for the prior 5 years.   Sellers are enjoying an advantage to their buyers.  This still remains a wonderful neigborhood to call home.

This neighborhood bears little resemblance to that of even a decade ago, even as it struggles to maintain reminders of it's role in local history, and yes, this is a favorite among people who want to 'feel' their living in Washington,DC. This zip code ranked #24 in Washingtonian Magazines Great Places To Live 2019 issue, which ranked the 100 priciest zip codes in the greater Washington DC metro area.

(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

 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Real Estate Market Trends
Location:
District of Columbia District of Columbia County Washington
Groups:
Market Reports
City and State Community & Marketing Reports
2018 Market Reports
Tags:
logan
market reports
shaw

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
3,172,371
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Claude always appreciate your Market Trends Reports and for years I have been saying I will copy  those Gages because they are so visually appealing and I still have not done it:)Endre

Apr 16, 2019 11:21 PM #1
Rainmaker
3,162,488
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Claude. Thanks for the update. Never beeen there, but you never know! Enjoy your day. 

Apr 17, 2019 05:32 AM #2
Rainmaker
588,886
Claude Labbe
Real Living | At Home - Washington, DC
Realty for Your Busy Life

Endre Barath, Jr.  and Wayne Martin

this one got ahead of me, wasn't ready to be published, but fat fingered anyhow.

the stats were correct, but I'd wanted to update the local media input.

thank you for checking in.

Apr 27, 2019 09:38 PM #3
Rainmaker
3,172,371
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Claude always nice to connect with you and as far as I am concerned it takes an effort for me to do a Market Trends Report but all the gurus say it helps to get the word out so with that said I do them as well, Endre

Apr 27, 2019 09:57 PM #4
Rainmaker
2,733,990
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

I love how all these houses are shaped so uniquely for their time and seem to be captured and frozen in like a perfect form. :)

Apr 27, 2019 10:09 PM #5
Rainmaker
2,733,990
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

I guess if it really does help get the word out quite a lot, it could be worth it in the end. Endre Barath, Jr.

Apr 27, 2019 10:11 PM #6
Rainmaker
1,958,332
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Southlake, TX
Selling Homes Changing Lives

Claude Labbe - I'm always impressed with how creative you are when it comes to marketing reports. I'm guessing you're past the Cherry Blossom season and into spring sales. I wish you continued success and all the best.  

Apr 29, 2019 09:25 PM #7
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
588,886

Claude Labbe

Realty for Your Busy Life
What's Your Preferred metro Washington DC Neighborhood ?
*
*
*
*
Spam prevention