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.
In a drop from last month, a total of 46 homes were sold in November 2019, almost at, but not quite the 5 year average of 49. We'll continue to watch numbers.
Currently there are 138 homes on the market, this is again a drop from the previous month, though above the 5 year average of 115. With this ratio, we are at 2.3 Months of Supply, which is just a little higher than the 5 year average of 1.9 months and a small 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 November shows us a $710,500 Sold price, a bit of an increase from last month and likely reflective of the drop in inventory. We compare this to the prior five year average of $667,800 so a little higher, but close to the average sold price.
The average home was sold in 13 days. This is a small increase from last months numbers, and right on target for the 5 year average of 13 days. This indicates a fast market and that inventory is not keeping up with demand.
The ratio of sold price to original list price is stable at 100%, no wiggle room for buyers compared to the 99.8% 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)