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 98 homes were sold in April 2019, almost doubling numbers from last month, and considerably higher than the average for the prior 5 years, at 69. It appears the market has truly recovered in this neighborhood. We'll watch to see if numbers have stabilized and continue to rise as expected.
Currently there are 101 homes on the market for the month of April, this is a slight increase from the previous month, and just a bit higher than the 5 year average of 98. With this ratio, we are at 1.7 Months of Supply, which is a touch higher than the 5 year average of 1.6 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 April shows us a $642,500 Sold price, a slight dip from last month, and somewhat expected considering the higher number of homes that sold. We compare this to the prior five year average of $601,100 so we are still seeing a higher than average sold price.
The average home was sold in 20 days. The 5 year average is 24 days. This is the same as last month and 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)