Market Report - 20001 - Washington, DC NW (Logan--Shaw) 2019 5

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 70 homes were sold in May 2019, a drop in numbers from last month, and almost at the average for the prior 5 years, at 74.  It appears the market has stabilized in this neighborhood.  We'll continue to watch numbers.

Currently there are 108 homes on the market for the month of May, this is a slight increase from the previous month, and almost at the 5 year average of 107. With this ratio, we are at 1.8 Months of Supply, which is right at the 5 year average of 1.8 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 May shows us a $650,000 Sold price, a bit higher than last month. We compare this to the prior five year average of $681,400 so a little lower than average sold price. This is likely due to the higher number of sales.

The average home was sold in 14 days.  The 5 year average is 25 days.  This is a drop from last month and a drop from the 5 year average indicating 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

 

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