Market Report - 20001 - Washington, DC NW (Logan--Shaw) 2021 11

By
Real Estate Agent with RLAH / @properties 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 good bit from last month, with a total of 75 homes sold in November 2021. We are once again above the 5 year average of 60 and have reversed the previous trend down from 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 193 homes on the market, a decrease from the previous month, though still quite a bit over the 5 year average of 163. 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 2.4 Months of Supply, which is just about the same as the 5 year average of 2.5 months, and a small decrease from the 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 November shows us a small increase to a $799,500 Sold price, 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 $725,744. 

The average home was sold in 13 days.  A drop from last month, and almost the same as the 5 year average of 14 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 98.8%, a tiny amount of wiggle room for buyers and the same as compared to the 99.2% 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 (2)

Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Claude. Never been to DC but appreciate your neighborhood delineations. Thanks for the update. Happy New Year!

Dec 30, 2021 04:55 AM
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 market update with us. Buyers & sellers in your area would benefit from your services. Have a great day!

Dec 31, 2021 01:41 PM