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 modest bump from last month, a total of 51 homes were sold in February 2020, though thats a nice bit above the 5 year average of 44. We'll continue to watch numbers. Well, we sure want to because....we can predict there will be changes, but how much and when? I've got ideas, which I've shared with people, now let's see how things roll out.
Currently there are 108 homes on the market, this is again a small drop from the previous month, though a a good deal above the 5 year average of 92. With this ratio, we are at 1.8 Months of Supply, which is just a little higher than the 5 year average of 1.5 months and a little 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 February shows us a $735,000 Sold price, a nice jump from last month and likely reflective of a boost after the holidays. We compare this to the prior five year average of $646,150 so nicely higher.
The average home was sold in 31 days. This is nearly double last months numbers, and higher than the 5 year average of 23 days. This indicates a bit of a slowdown, perhaps careful buyers? A bit of worry for whats coming? Inventory is still hot however.
The ratio of sold price to original list price is stable at 99.1%, very little 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)