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.
The COVID yoyo continues, last months numbers were lower, this month a little higher with a total of 94 homes sold in August 2020, that is well above the 5 year average of 71. 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 174 homes on the market, a bit of a drop from the previous month, but once again a good deal above the 5 year average of 102. How far will the numbers climb? With this ratio, we are at 3.1 Months of Supply, which is once again higher than the 5 year average of 1.7 months, though a small decrease 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 August shows us a $675,000 Sold price, a small increase in prices from last month, but we will watch what next month will hold. Conditions change month to month with COVID, so much could change before August's numbers emerge. We compare this to the prior five year average of $685,890 which is higher.
The average home was sold in 9 days. This is almost the same as last months numbers, and a few days less than 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 100%, no wiggle room for buyers compared to the 99.7% 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)
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