Market Report - 20001 - Washington, DC NW (Logan--Shaw) 2020 06

By
Real Estate Agent with RLAH / @properties 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.

 

COVID continues to perplex, and up and down numbers mean our market isn't normal right now, as a total of 48 homes were sold in June 2020, that is below the 5 year average of 69.  We'll continue to watch numbers because of COVID, and as we move through summer and into fall, each month is new territory.  We can't predict all the changes such as when, so we'll just have to watch the market for cues. 

Currently there are 153 homes on the market, this is a gain from the previous month, and a good deal above the 5 year average of 120, this is a little surprising, but not totally unexpected. With this ratio, we are at 2.9 Months of Supply, which is higher than the 5 year average of 2.1 months and an increase from last month; though this number is ticking up, this still continues to remain low and indicates strong demand in this neighborhood even with COVID.  That continues to indicate the desirability of this neighborhood and expected upward pressure on pricing. 

Activity in June shows us a $686,750 Sold price, a drop from last month, but we will watch what next month will hold. Conditions change month to month with COVID, so much could change before July's numbers emerge. We compare this to the prior five year average of $685,250 which is nearly identical. 

The average home was sold in 17 days.  This is is a drop from last months numbers, and almost the same as the 5 year average of 14 days. This indicates that those who were looking for a home were serious and didn't take long to decide.  This doesn't indicate a slowdown, and again, we'll just have to watch the next month. 

The ratio of sold price to original list price is 98.9%, a tiny bit of wiggle room for buyers compared to the 99.8% average for the prior 5 years.   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

 

Comments (8)

Doug Dawes
Keller Williams Realty Evolution - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

Great report on the Washington, D.C. Logan - Shaw neighborhood Claude Labbe 

I'm amazed at the activity in the nations Capital

Jul 25, 2020 07:41 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Claude nice to see you being able to write a post and I see that even spammers are able to comment:) #1 &#2 not our friend Doug Dawes 

Jul 25, 2020 08:41 PM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Claude, great market update for zip 20001 and you are the REALTOR to call when a buyer is ready to purchase.

Jul 26, 2020 05:34 AM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

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

Jul 26, 2020 02:30 PM
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Claude Labbe this is valuable information for Buyers and Sellers in your area.

Jul 26, 2020 04:12 PM
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

It really does have a peacefulness that I haven't seen in a lot of other cities when I visit

Mar 29, 2021 10:04 PM