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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.
Are we finally on an upward trend? Numbers dropped a little from last month, with a total of 110 homes sold in May 2021. We are still above the 5 year average of 76 and have continued to trend up the last couple months. The rebound of 2021 continues, so we'll continue to watch numbers as we move further into spring. We can't predict all the changes, so we'll just have to watch the market for cues.
Currently there are 168 homes on the market, more than the previous month, and nicely over the 5 year average of 132. Will numbers now continue up, or will they dip again in the crazy market that has happened nearly every month since the lockdown ended, only time will tell. With this ratio, we are at 2.1 Months of Supply, which is right at the 5 year average of 2.1 months, and a little lower than 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 May shows us a $751,400 Sold price, an increase in prices from last month, another yoyo, but we will watch what next month will hold. Prices will likely continue these movements because COVID is still here, so we just need to be prepared. The prior five year average is $706,280.
The average home was sold in 7 days. Another small drop from last months numbers, and a little lower than the 5 year average of 9 days. This continues to indicate that the market is fast, but COVID will have it's way. 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 100.0%, zero wiggle room for buyers and the same as 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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