Market Report - 20001 - Washington, DC NW (Logan--Shaw) 2020 02

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.

 

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)

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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District of Columbia District of Columbia County Washington Logan
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Rainmaker
3,340,389
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Claude hope you are well and staying healthy, just wanted to stop in and see how you are. We are all sheltering in place and my neighbors are wondering if I am still alive or has Diane put me out of her misery:)Endre

Mar 31, 2020 11:00 PM #1
Rainmaker
3,825,261
Sheila Anderson
Referral Group Incorporated - East Brunswick, NJ
The Real Estate Whisperer Who Listens 732-715-1133

Good morning Claude. I just wanted to stop by and say hello and hope you are well.

Apr 01, 2020 05:55 AM #2
Rainmaker
650,178
Sara Wagner
The Woodland Companies - Adams, WI
Stevens Point Rentals

Thanks for sharing the information on this community, I hope you sell many of these homes. 

Sara 

Apr 02, 2020 01:14 AM #3
Rainmaker
2,723,747
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

Washington DC home buyers and sellers are sure to value your real estate market report, Claude.  Stay well!

Apr 02, 2020 07:01 PM #4
Rainmaker
2,176,569
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Hi Claude Labbe - Glad to see you continue here on ActiveRain. May your life be rich and full of joy. 

Apr 05, 2020 05:45 AM #5
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Rainmaker
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Claude Labbe

Realty for Your Busy Life
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