Market Report - 20001 - Washington, DC NW (Logan--Shaw) 2021 8

By
Real Estate Agent with Real Living | At Home DC / MD / VA

 

[Logan Circle Homes This is the neighborhood 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.

 

 

Numbers dropped quite a bit from last month, with a total of 73 homes sold in August 2021. This puts us right at the 5 year average of 72, are we finally back to normal? Or will the COVID yo yo continue.  We'll continue to watch numbers as we move through summer to fall.  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, identical to the previous month, but less than the 5 year average of 174. Will numbers 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, and the same as 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 August shows us a $772,565 Sold price, another bump up in prices from last month, but we will watch what next month will hold. Prices will likely continue these up and down movements because COVID is still here, so we just need to be prepared. The prior five year average is $698,570. 

The average home was sold in 16 days.  A few days higher than last months numbers, though still lower than the 5 year average of 24 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  as compared to the 99% average for the prior 5 years.   This still remains a wonderful neighborhood 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 (1)

Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

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

Oct 29, 2021 05:17 PM