Market Report - 20001 - Washington, DC NW (Logan--Shaw) 2020 12

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.

 

Finally some stability, with numbers for the last month of the year very similar to Novembers with a total of 75 homes sold in December 2020. We are still quite a bit over the 5 year average of 57.  It seems 2020 had a mind of it's own, so we'll continue to watch numbers as we move from winter into spring 2021.  We can't predict all the changes, so we'll just have to watch the market for cues. 

Currently there are 165 homes on the market, a big drop from the previous month, and but still over the 5 year average of 101. 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 2.5 Months of Supply, which is higher than the 5 year average of 1.7 months, but a decrease 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 December shows us a $618,500 Sold price, a huge drop in prices from last month, but we will watch what next month will hold. Prices will likely continue their yoyo movements because COVID is still here, so we just need to be prepared. The prior five year average is $658,100. 

The average home was sold in 25 days.  This is a little higher than last months numbers again, but nearly the same as the 5 year average of 23 days. This continues to indicate that the market is fast, those who were looking for a home 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 and about the same as compared to the 99% 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 (2)

Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

I haven’t really been keeping track of the DC area as far as real estate. Thank you for the update!

Jan 28, 2021 07:09 PM
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

Thanks for sharing your Washington DC market report with us here in the Rain Claude. It's always interesting to see how other areas of the country are doing.

Jan 29, 2021 01:28 PM