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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 increased from last month, with a total of 69 homes sold in February 2022. We a good bit above the 5 year average of 55, a good thing and hopefully a trend that will continue. We'll continue to watch numbers as we move through late winter into spring. We can't predict all the changes, so we'll just have to watch the market for cues.
Currently there are 145 homes on the market, another small increase from the previous month, and higher than the 5 year average of 123. Numbers remain above average which is good, but they may dip again in the crazy market as has happened with regularity since the lockdown ended, only time will tell. With this ratio, we are about the same as last months at 1.8 Months of Supply, which is equal to the 5 year average of 1.9 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 February shows us a healthy increase to a $737,500 Sold price, a nice bump, and above the average. We will watch what next month will hold. Prices will likely continue up and down movements because COVID is still here, so we just need to be prepared. The prior five year average is $693,300.
The average home was sold in 18 days. An decrease from last month, and nicely lower than the 5 year average of 31 days. This market is speeding up after the winter doldrums, but COVID will have it's way and it may slow down again. 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 99.8%, very little wiggle room for buyers and about the same as compared to the 99.6% 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)
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