Market Report - 20001 - Washington, DC NW (Logan--Shaw) 2021 7

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.

 

Up and down, up and down, numbers dropped from last month, with a total of 106 homes sold in July 2021. We are still quite a bit above the 5 year average of 75 and have continued to trend up slowly since the early COVID days.  The rebound of 2021 continues, so we'll continue to watch numbers as we move towards the end of summer.  We can't predict all the changes, so we'll just have to watch the market for cues. 

Currently there are 144 homes on the market, less than the previous month, but still over the 5 year average of 133. 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 1.6 Months of Supply, which is lower than the 5 year average of 2.1 months, and a lower than last month; this number 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 July shows us a $732,450 Sold price, a small 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 $674,990. 

The average home was sold in 10 days.  About the same as last months numbers, and right at the 5 year average of 10 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 100.0% 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 (3)

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

Washington D.C. (Logan Shaw) home buyers and sellers are sure to value your real estate market report, Claude.

Aug 29, 2021 07:40 PM
Mark Don McInnes, Sandpoint-Idaho
Sandpoint Realty LLC - Sandpoint, ID
North Idaho Real Estate - 208-255.6227

Top of the morning Claude.  Long time since I have said Howdy.  Seems you are witnessing much the same situation with your market.  While colling from previous months still showing extremely strong based on what were once the 'norm' in market stats.  Going to be an interesting finish to 2021 I believe.  Claude, trust you are doing well.  Take care and stay healthy.  Mark

Aug 30, 2021 04:46 AM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Claude it has been ages since we connected hope you are busy like I am Endre

Aug 30, 2021 11:18 PM