Market Report - 20001 - Washington, DC NW (Logan--Shaw) 2020 11

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

 

Another rollercoaster month as last months numbers were high, this month they are higher yet with a total of 74 homes sold in November 2020. We are nicely over the 5 year average of 53.  It seems 2020 has a mind of it's own, so we'll continue to watch numbers, and as we move into fall.  We can't predict all the changes, so we'll just have to watch the market for cues. 

Currently there are 237 homes on the market, a big swing up from the previous month, and considerably over the 5 year average of 143. Will numbers continue to increase, or will they dip again in the yoyo market that has happened nearly every month since the lockdown ended. With this ratio, we are at 3.8 Months of Supply, which is a higher than the 5 year average of 2.4 months, and an increase from last month; 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 November shows us a $767,500 Sold price, a huge jump 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 December's numbers emerge. Last months large supply likely tempered these prices as we compare this to the prior five year average of $700,844. 

The average home was sold in 16 days.  This is a little higher than last months numbers, and almost the same as the 5 year average of 14 days. This continues to indicate 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 98.3%, a tiny bit of wiggle room for buyers and about the same as compared to the 99.5% 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 (4)

Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

Washington D.C. home buyers and sellers will value your real estate market report, Claude.

Dec 30, 2020 12:39 AM
Richard Weeks
Dallas, TX
REALTOR®, Broker

Thanks for sharing your market update.  Great information for buyers and sellers in your area.

Dec 30, 2020 02:16 AM
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

thanks for this very informative market report.  I always enjoy reading your reports - Have a wonderful new year! and a prosperous one too! 

Dec 30, 2020 06:07 AM
Rocky Dickerson
Realty One Group - Las Vegas, NV
Superior Service!

Good morning Claude Labbe what a great informational and detailed market report. Thank you for posting.

Dec 30, 2020 08:26 AM