Market Watch: Logan Circle

by UrbanTurf Staff

In a new series debuting today called Market Watch, UrbanTurf will take a close look at how housing markets in specific DC neighborhoods have fared over the last six years. For the first article, we look at the market in Logan Circle from 2004 to 2010.

Logan Circle

The days when Logan Circle was a neighborhood that DC residents avoided at all costs are a distant memory. Now the area is home to high-end one-name restaurants like Estadio and Posto, expensive furniture stores, and beautifully restored row houses that rarely fetch less than $1 million.

However, when looking at the average sales prices for properties in the neighborhood over the last six years, the conclusion is somewhat surprising: it is evident that there has been steady appreciation, but not the skyrocketing increase that many might expect. Below are two charts that illustrate the ups and downs that prices have experienced over the last six years and the varying increase in average sales price for different property types.

Click figure to enlarge. Courtesy of Lindsay Reishman Real Estate.
Click figure to enlarge

“Real estate hasn’t appreciated as much as local owners would have hoped since 2004 and 2005,” Lindsay Reishman of Lindsay Reishman Real Estate told UrbanTurf. “The area has come a long way during this time, but the macro economic influences have kept prices from appreciating further. However, Logan Circle is now a neighborhood akin to Dupont, where properties hold their value well and remain relatively insulated from market downturns.”

So far, 183 properties under $1 million have sold in Logan Circle in 2010 compared to just 16 over $1 million. The sales pace for the neighborhood is a bit slower for sub-million dolar properties than at this point last year when 225 properties had sold; for properties above $1 million it is ahead of last year’s pace of 15.

Currently, the average number of days that listings spend on the market is 53, but homes seem to be selling much faster than that. In the past two months, Reishman’s team has gotten full price on a two-bedroom unit at 1750 16th Street NW two days after the property was listed (at $665 a square foot). They got above the asking price for this two-bedroom unit on Corcoran Street in just six days. A two-bedroom on Logan Circle that we featured for This Week’s Find was on the market for just three days in early September before we received word that the listing had received multiple offers. It was under contract the next day.

“When I analyze price for clients, I tend to find that a property in Logan is worth very close to what it was worth five years ago,” Reishman told UrbanTurf. “And while I don’t expect home prices in the neighborhood to change substantially in the next year, I’m confident that in three years properties in the area will be worth more than they are worth today.”

* Methodology. For the purpose of this article, the boundaries of Logan Circle are defined as 16th Street to the west, S Street to the north, 10th Street to the east and M Street to the south. Average sales data was pulled from the Multiple Listing Service for the area within these boundaries.

See other articles related to: market watch, logan circle, dclofts

This article originally published at https://dc.urbanturf.com/articles/blog/market_watch_logan_circle/2579


  1. Enily said at 2:10 pm on Tuesday October 19, 2010:

    Very helpful. Please do this for Shaw and H Street!

  1. Rich said at 8:49 pm on Tuesday October 19, 2010:

    I wish I had bought a 3-bedroom in Logan in 2004…

  1. Victoria said at 2:36 pm on Wednesday October 20, 2010:

    I wish I had bought one of those houses when they were dens of iniquity back in the ‘70s when I was a student at Howard.  Beautiful as they were, you couldn’t GIVE them away back then—and I was a poor student with not a cent to rehab one….  Oh well…

  1. Dorothy said at 3:23 pm on Wednesday October 20, 2010:

    As a resident of Logan Circle itself, I think it is unfortunate that Urban Turf didn’t capture the REAL historic side of Logan Circle.  What your photo reveals is predominantly developer P.N. Hoffman’s “attempt”, in a down market, to blend with a classic, VERY historic residential Circle.  After all, Logan Circle is post-Civil War and 1 & 2 Logan (constructed by Ulyssis Grant after he turned developer), for example, is among the most historic buildings in the City!  Logan Circle was the FIRST area of purely residential grand homes created in Washington and is now among the LAST!  It’s worth noting.

Comments are closed.

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!

Northern Virginia

Profiles of 14 neighborhoods across Northern Virginia

Looking to Give People A Reason to Stay Past 6pm
Happily Straddling the Line Between City and Suburb
Columbia Pike
Arlington’s Neglected Stepchild is Getting a Makeover
Crystal City
Turning Lemons into Lemonade
Lyon Village
Developing An Air of Exclusivity?
Hitting Its Growth Spurt
An Urban Village Hitting Its Stride
Del Ray
Virginia’s Small Town Near the Big City
Eisenhower Avenue
The Vibrancy Might Take a Few Years
The Quiet Neighborhood By the Beltway
Old Town
Mayberry By The Potomac
132 Commerical-Free Acres
Downtown Falls Church
Staying the Same in the Midst of Change
Tysons Corner
Radical Change Could Be On The Way

See more Northern Virginia »


Profiles of 14 neighborhoods in suburban Maryland

Small-Town Living in the State Capital
Bedroom Community Gets Buzzing Cache
Cabin John
In With The New While Maintaining the Old
Chevy Chase
Affluence, Green Lawns and Pricey Homes
Downtown Silver Spring
Experiencing a Resurgence After a Bumpy History
A Suburb on Steroids
Rockville Town Square
Despite the Dynamism, Still Somewhat Generic
Takoma Park
More Than a Little Bit Quirky
A Foodie Magnet on the Verge of Change
Capitol Heights
Kudzu, Front Porches and Crime
Glass Half Full or Half Empty?
Mount Rainier
Artists, Affordable Homes and A Silo Full of Corn
National Harbor
A Development Rises Next to the Potomac
Riverdale Park
A Town Looking For Its Identity

See more Maryland »

Northwest DC

30+ neighborhood profiles for the city's biggest quadrant

16th Street Heights
DC's Sleeper Neighborhood
Where (Almost) Everyone Knows Your Name
AU Park
One of DC’s Last Frontiers Before the Suburbs
DC’s Northern Neighborhood on the Cusp
DC’s 535 House Neighborhood
Cathedral Heights
Do You Know Where That Is?
Chevy Chase DC
Not to Be Confused With the Other Chevy Chase
Cleveland Park
Coming Back After A Rough Year
Columbia Heights
DC’s Most Diverse Neighborhood, But For How Long?
An Island of Serenity East of the Park
Dupont Circle
The Best of DC (For a Price)
Foggy Bottom & West End
Where the Institutional Meets the International
Forest Hills
Ambassadors and Adventurous Architecture
Foxhall Village
350 Homes Just West of Georgetown
Friendship Heights
A Shopping Mecca With a Few Places to Live
History, Hoyas and H&M
Glover Park
One of DC’s Preppier and More Family-Friendly Neighborhoods
A Posh View From Embassy Row
LeDroit Park
A Quiet Enclave in the Middle of the City
Logan Circle
Trendy Now, But Not By Accident
Mount Pleasant
Sought-After Homes Surround Main Street in Transition
Mount Vernon Triangle
From Seedy to Sought-After
The Long, Skinny Neighborhood at the City’s Northwest Edge
Park View
It’s Not Petworth
Penn Quarter/Chinatown
DC’s Go-Go-Go Neighborhood
Getting a Vibrancy of Its Own
The Duke’s Former Stomping Ground
Shepherd Park
DC’s Garden of Diversity
Spring Valley
A Suburb With a DC Zip Code
Not To Be Confused With Takoma Park
Not Quite Like Its Neighbors
U Street Corridor
The Difference a Decade Makes
Woodley Park
Deceptively Residential
Adams Morgan
No Longer DC’s Hippest Neighborhood, But Still Loved by Residents

See more Northwest DC »

Southwest DC

The little quadrant that could

Southwest Waterfront
A Neighborhood Where A Change Is Gonna Come

See more Southwest DC »

Northeast DC

Profiles of 10 neighborhoods in NE

New Development Could Shake Up Pastoral Peace
A Little Bit of Country Just Inside the District’s Borders
Not to Be Confused With Bloomingdale
Fort Totten
Five Years Could Make a Big Difference
H Street
A Place To Party, and To Settle Down
The Northeast Neighborhood That Few Know About
Michigan Park
A Newsletter-On-Your-Doorstep Community
Evolving from a Brand to a Neighborhood
Ripe for Investment Right About Now
The Difference 5 Years Makes
Big Houses, A Dusty Commercial Strip and Potential

See more Northeast DC »

Southeast DC

6 neighborhoods from Capitol Hill to East of the River

Capitol Riverfront
Still Growing
Hill East
Capitol Hill’s Lesser Known Neighbor
Congress Heights
Gradually Rising
Notable for Its Neighborliness
Historic Anacostia
Future Promise Breeds Cautious Optimism
Eastern Market
A More European Way of Living

See more Southeast DC »

Upcoming Seminars ▾