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)