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)