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Market Report - 20001 - Washington, DC NW (Logan--Shaw) 2023 11

By
Real Estate Agent with RLAH / @properties DC / MD / VA

 

[Logan Circle HomesThis 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.

Interest rates, while still higher than pre-pandemic rates, started to fall in November.  This month, we lost homes again vs. the previous month for a total of 23 homes sold. Up and down, up and down, and once again we are below the 5 year average of 50.  Stubbornly high interest rates have surely slowed sellers selling; but buyers will continue to buy and sellers will continue to sell, so we will watch to see if this trend will continue.  We can't predict all the changes, so we'll just have to watch the market for cues. 

Currently there are 160 homes on the market, a drop from last month and once again under the 5 year average of 183. We are a a little lower than last month at 3.9 Months of Supply, and higher than the 5 year average of 3.0 months; though this number still continues to remain low and indicates strong demand in this neighborhood even with the challenges we've faced the previous several years.  That continues to indicate the desirability of this neighborhood and expected upward pressure on pricing. 

Activity in November shows the pricing bouncing around and we are once again lower than the sold price from the previous month at $759,000, though a bit above the five year average of $747,300. 

The average home was sold in 23 days.  This is a few days less than last month, and we really can't complain, though movement down would be nice. We are higher than the 5 year average of 18 days. Those who were looking for a home didn't take long to decide.  We'll just have to watch the next month. 

The ratio of sold price to original list price is 98%, almost no wiggle room for buyers. The 5 year average was 98.5%.   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

 

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

Claude up late? seriously hope you had a wonderful Christmas and are ready for a wonderful New Years eve celebration, Endre

Dec 30, 2023 09:35 PM
Claude Labbe

and happy 2024

Dec 31, 2023 09:45 PM
Bill Salvatore - East Valley
Arizona Elite Properties - Chandler, AZ
Realtor - 602-999-0952 / em: golfArizona@cox.net

I enjoy reading about other markets, thanks for sharing with us, have a wonderful Sunday and Happy New Years.

Bill Salvatore w/ Arizona Elite Properties

Dec 31, 2023 03:59 AM
Claude Labbe

best to you Bill

Dec 31, 2023 09:45 PM
Richard Weeks
Dallas, TX
REALTOR®, Broker
Thanks for sharing your market update.  Great information for buyers and sellers in your area.
Dec 31, 2023 04:47 AM
Claude Labbe

not growing nearly as fast as your market surely

Dec 31, 2023 09:45 PM
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

Thanks for sharing your market report with us here in the Rain. It's always interesting to see how other areas of the country are doing.

 

Jan 08, 2024 09:04 AM