Market Report - 20001 - Washington, DC NW (Logan--Shaw) 2022 3

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 increased again from last month, with a total of 95 homes sold in March 2022. We a good bit above the 5 year average of 75, a good thing and hopefully a trend that will continue.  We'll continue to watch numbers as we move through spring.  We can't predict all the changes, so we'll just have to watch the market for cues. 

Currently there are 147 homes on the market, about the same as the previous month, though higher than the 5 year average of 120. 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 once again at the same as last months at 1.8 Months of Supply, which is equal to the 5 year average of 1.8 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 March shows us a bit of a drop to a $705,222 Sold price, a small dip, but still 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 $687,134. 

The average home was sold in 11 days.  An big drop from last month, and right at the 5 year average of 11 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 100%, zero wiggle room for buyers and about the same as compared to the 100% 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)

Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Claude good to see you, on the platform, funny  I just did a market Report Yesterday... check it out... you are so good at it, I need to do more:)Endre

May 03, 2022 09:21 PM
Mark Don McInnes, Sandpoint-Idaho
Sandpoint Realty LLC - Sandpoint, ID
North Idaho Real Estate - 208-255.6227

Good morning Claude.  Good market report.  Shows, IMO, a strong market that is not out of control.  Anyone interested in Real Estate in your area will do themselves a big injustice in not checking with Claude Labbe  to better understand the nuances of the figures, and how they relate to their buying or selling needs.  Mark

May 04, 2022 02:03 AM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

Washington DC home buyers and sellers are sure to value your real estate market report, Claude.

May 04, 2022 06:02 AM