With a quick look at the housing market activity in Logan Circle and Thomas Circle we can see that things have been tight for quite a few months, with active listings remaining near, or even below the number of pending sales. Generally this creates seller’s market behavior where you can expect fast sales and multiple offers for many homes.
A condo heavy market place, Logan and Thomas Circles are almost always in high demand with buyers looking for access to all that Washington, DC has to offer. In this next chart we can see more clearly that the competition continues to heat up as we see days on market continue to trend downward.
Like many areas in, and outside of the District, buyers will need to understand that they are not operating in a market that is going to bend to their will. It’s competitive out there, and most successful transactions are requiring aggressive action, both with the time one takes to make a decision, and in the offer they bring to the table.
Kristin, the founder of The Ramsbury Group, has been representing clients and redeveloping properties in the Washington DC area for over a decade. She has represented residential and commercial clients in transactions ranging from $200,000 to $4 million in value as well as commercial leases up to 15,000sf.