Market Report - 20001 - Washington, DC NW (Logan--Shaw) 2020 03

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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 the place to be and the neighborhood has a great feel of new & old woven together.

 

In a bit of a jump from last month, a total of 67 homes were sold in March 2020, that is above the 5 year average of 62.  We'll continue to watch numbers because of COVID, we would expect next month to show something very different.  We can't predict all the changes such as when, so we'll just have to see what next month holds. 

Currently there are 121 homes on the market, this is a gain from the previous month, though a a good deal above the 5 year average of 99, again we expect April may show very different numbers. With this ratio, we are at 2.0 Months of Supply, which is just a little higher than the 5 year average of 1.7 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 March shows us a $699,500 Sold price, a a drop from last month and perhaps an indication of what next month will hold. We compare this to the prior five year average of $659,720 so a touch higher. 

The average home was sold in 12 days.  This is is a drop from last months numbers, and almost the same as the 5 year average of 11 days. This doesn't indicate a slowdown,  though I expect next month will be different and the month after that too. Inventory is still hot however.

The ratio of sold price to original list price is stable at 100%, surprisingly no wiggle room 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)

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
3,341,883
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Claude I always enjoy your market reports, just wanted to stop in and hope that you are safe and sound. I am still busy in spite of the CV-19 lock down by our Governor, Endre

Apr 20, 2020 11:02 PM #1
Rainmaker
148,163
Joseph Doohan
Joseph Doohan - Las Vegas, NV
I offer business strategy advice for realtors

Thank you for taking the time to keep us posted and up to date. Wishing you a great day ahead! Take care.

Apr 21, 2020 12:42 AM #2
Rainmaker
3,556,915
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Claude. It will indeed be interesting how the April numbers change. Thanks for the update. Enjoy your day!

Apr 21, 2020 05:20 AM #3
Rainmaker
2,724,797
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

Washington D.C. home buyers and sellers are sure to value your real estate market reports, Claude.

Apr 22, 2020 08:31 AM #4
Rainmaker
601,805
Sally Crane
WMS - Unity, WI
Woodland appraisal support.

Thanks for the update, all the best to you as you get many of these properties listed and sold.

Sally

Apr 24, 2020 06:02 PM #5
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Rainmaker
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Claude Labbe

Realty for Your Busy Life
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