Market Report - 20001 - Washington, DC NW (Logan--Shaw) 2019 8

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 60 homes were sold in August 2019, a more than last month, though a few less than the 5 year average of 64.  We'll continue to watch numbers.

Currently there are 89 homes on the market for the month of August, this is pretty big drop from the previous month, though a little above the 5 year average of 85. With this ratio, we are at 1.5 Months of Supply, which is almost the same as the 5 year average of 1.4 months and a drop from last month; 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 August shows us a $762,000 Sold price, a huge jump from last month. We compare this to the prior five year average of $660,790 so a good bit higher than the average sold price. 

The average home was sold in 18 days.  The 5 year average is 31 days.  This a few days higher than last month, though 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 98.7%, a tiny bit of wiggle room for buyers compared to the 99.7% 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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Rainmaker
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Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Claude. With demand high and inventory low, a local expert agent is definitely necessary. Thanks for the update. Enjoy your day!

Sep 22, 2019 05:15 AM #1
Rainmaker
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Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

This is valuable real estate market data for home buyers and sellers in your area, Claude.

Sep 28, 2019 04:30 AM #2
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Rainmaker
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Claude Labbe

Realty for Your Busy Life
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