[
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 some from last month, with a total of 68 homes sold in December 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 128 homes on the market, another drop from the previous month, though still higher than the 5 year average of 112. Numbers are still above average which is good, 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 down at a 1.6 Months of Supply, which is just about the same as the 5 year average of 1.7 months, and a 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 December shows us a decrease to a $682,000 Sold price, another small yoyo, but still above the average. 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 $663,600.
The average home was sold in 21 days. An increase from last month, and almost the same as the 5 year average of 25 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 98.7%, a tiny amount of wiggle room for buyers and the same as compared to the 98.8% 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)
Comments(4)