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 July 2019, a decent drop from last month, and good bit less than the 5 year average of 67. We'll continue to watch numbers.
Currently there are 104 homes on the market for the month of July, this is a decrease from the previous month, though a little above the 5 year average of 101. With this ratio, we are at 1.8 Months of Supply, which is a touch higher than the 5 year average of 1.7 months; though 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 July shows us a $622,500 Sold price, a drop from last month. We compare this to the prior five year average of $645,480 so a good bit higher than the average sold price.
The average home was sold in 13 days. The 5 year average is 26 days. This is an sharp drop from last month and a drop from the 5 year average indicating a fast market. Inventory is not keeping up with demand.
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)