Home | Newsletter | Advertise
loading...

Logan Circle Market on Cruise Control as Median Prices Approach $700,000

  • August 30th 2016

by Nena Perry-Brown

Logan Circle Market on Cruise Control as Median Prices Approach $700,000: Figure 1
Homes on Rhode Island Avenue in Logan Circle

UrbanTurf spent early 2016 looking back at how various housing submarkets fared in the DC area in the eight years since the nationwide recession. Since then, we have shifted gears to see how a selection of neighborhood housing markets have performed this year as compared to the same period in 2015.

For this week’s edition of Home Price Watch, we are taking a look at Logan Circle, one of the city’s trendiest neighborhoods in recent years.

Logan Circle Market on Cruise Control as Median Prices Approach $700,000: Figure 2

The median price for homes in Logan Circle is approaching $700,000, coming in at $677,500 thus far this year, a 9.72 percent increase over the 2015 median of $617,500. The average listing price is now well above $700,000 — $757,293 to be specific, up 6.5 percent compared to last year.

Despite the increasing prices, other market indicators seem to suggest that while Logan Circle is still a highly desirable neighborhood, the housing market is stabilizing.

Dwellings are spending an average of 24 days on the market — the same length of time they spent on the market through July 2015. Listings are also selling for an average of 100.6 percent of their asking price this year, compared to 101.2 percent through the first seven months of 2015.

Perhaps most telling is the increased supply of homes on the market in Logan Circle. In July 2015, there was 0.8 months’ worth of supply on the market; this July, that supply has more than doubled to just over two months.

Housing data for the advertised subdivision of Logan Circle for this article was provided by RealEstate Business Intelligence.

Similar Posts:

This article originally published at https://dc.urbanturf.com/articles/blog/hpw_logan_circle_on_cruise_control/11613.

DC Real Estate Guides

Short guides to navigating the DC-area real estate market

We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Visit guides.urbanturf.com or start browsing below!

First-Timer Primers

Intro guides for first-time home buyers

Red Flags Revealed During a Home Inspection Top 5 Tax Breaks For Homeowners Tax Relief for DC Homeowners
Condo Fee Tutorial What is a Rent Back? 10 Ways To Tell If a Home Renovation is Well Done
Obtaining a Basic Business License For Your Rental What is an Adjustable Rate Mortgage? The Splitting the Rent Formula
How Much Cash Do You Need to Buy a House? Is This Condo Building Financially Healthy? Interest Rates and Mortgage Points
The Scoop on Mortgage Insurance

Unique Spaces

Awesome and unusual real estate from across the DC Metro

The Most Intriguing Loft in DC The R Street Firehouse DC’s One-Room House
Dupont Circle’s Old Frat House To Become Alley Home Best Transition From a Garage To a Home The Roundhouse
Tilden Gardens Restaurant-Turned-Home Hits Market Next Week Logan Circle’s Most Intriguing Garage Frank Lloyd Wright Goes Green in Kensington
Sears Bungalow Gets a Modern Makeover Old Town General Store Becomes Three-Level Home Making the Most of a Skinny House
A Studio 27 Renovation on Capitol Hill Once a Carriage House, Now a Home The Bank that Became a Home
From Pie to Hooch to Heroin to Home The Live-Aboards of Gangplank Marina A Treehouse with Rock Creek Park As A Backyard
Modern Tranquility in Sperryville Saddle Up For Stable Living Throwing a Curve at 550 Square Feet
A Modern Hilltop Retreat Tilden Street Restaurant Becomes Spacious Home Focus on Design: A Vastu Unit at 22 West
The DC Area’s First Net Zero Home A Yankee Goes Green DC’s First Carbon Neutral Home
Eco-Friendly Alley House Off H Street The Gym, The Stables and The Firehouse