Market Report - 20001 - Washington, DC NW (Logan--Shaw) 2021 10

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.

 

Numbers increased a little from last month, with a total of 55 homes sold in October 2021. We are below the 5 year average of 66 and have continued to trend down slowly for the last couple months.  We'll continue to watch numbers as we move through fall and into winter.  We can't predict all the changes, so we'll just have to watch the market for cues. 

Currently there are 222 homes on the market, another bump up from the previous month, and quite a bit over the 5 year average of 167. 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 2.7 Months of Supply, which is just about the same as the 5 year average of 2.8 months, and about 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 October shows us a $790,650 Sold price, a small decrease in prices from last month, another small 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 $713,436. 

The average home was sold in 20 days.  Higher than last months numbers, and higher again as the 5 year average of 12 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 99.6%, zero wiggle room for buyers and the same as compared to the 99.9% 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)

Mark Don McInnes, Sandpoint-Idaho
Sandpoint Realty LLC - Sandpoint, ID
North Idaho Real Estate - 208-255.6227

Hello Claude, Don't get a chance to say hello much anymore so perfect timing with your post.  Enjoy the week ahead and all the warmth that surrounds it.  Be safe, stay healthy. Mark

Nov 22, 2021 11:50 AM