Market Report - 20001 - Washington, DC NW (Logan--Shaw) 2022 1

By
Real Estate Agent with RLAH / @properties 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 some from last month, with a total of 54 homes sold in January 2022. We are still above the 5 year average of 47 though we are still up and 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 135 homes on the market, a small increase from the previous month, though still higher than the 5 year average of 113. 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 about the same as last months at 1.7 Months of Supply, which is equal to 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 January shows us an increase to a $707,450 Sold price, another small yoyo, and 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 $651,290. 

The average home was sold in 35 days.  An increase from last month, and a little higher than the 5 year average of 30 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 99.2%, a tiny amount of wiggle room for buyers and about the same as compared to the 99.0% 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 (3)

Tony Busanich
TD Bank - Freehold, NJ
1-4 FAMILY HOME LOAN SPECIALIST

Good afternoon Claude, thanks for sharing the Washington market trends update report for January 2022. I'm seeing a strong market, hopefully we can keep it moving forward. 

Feb 28, 2022 09:01 AM
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.

Feb 28, 2022 05:52 PM
Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

Hi Claude,
Thank you for sharing the real estate information.
Buyers and sellers in your area will benefit from your expertise.
Wishing you continued success.
Bob

Mar 12, 2022 01:45 AM