What's Hot: The Price is Right? How Home Pricing and Buying Strategies Are Changing in DC's Competitive Market
Cash is Still Crucial in Georgetown’s Housing Market

Inside a home for sale on P Street in Georgetown.
In this week’s edition of Home Price Watch, UrbanTurf heads to Georgetown, which still bears the distinction of being one of the most expensive housing markets in the city.
The median sales price for homes in Georgetown rose six percent between the first quarter of 2016 and 2017 to eclipse $1.35 million, helping boost the year’s sold dollar volume by nearly 21 percent. The neighborhood’s steep prices and high popularity are still making it a magnet for cash sales. So far this year, 38 percent of homes purchased in Georgetown were all-cash transactions.
story continues below
loading...story continues above
This year, price trajectory varies in Georgetown by property type. The average price for rowhouses with four or more bedrooms has dropped by 10 percent; conversely, the average price of the 25 condos and co-ops sold in the neighborhood this year is $1.06 million, a negligible difference from the sales price during the same time in 2016.
As sales prices have increased this year, so to have listing prices, jumping by 9.3 percent as sellers looking to take advantage of price appreciation. However, it doesn’t appear that sellers are getting those prices, as the average sales price to original list price ratio is down two points from last year.
Housing data for the legal subdivision of Georgetown was provided by RealEstate Business Intelligence. Georgetown is situated along the Potomac River between Glover-Archbold Park and Rock Creek Parkway, with Reservoir Road and Whitehaven Street creating a border to the north astride 35th Street NW.
Similar Posts:
See other articles related to: home price watch, georgetown home prices, georgetown
This article originally published at http://dc.urbanturf.com/articles/blog/cash_is_still_crucial_in_georgetowns_housing_market/12604
Most Popular... This Week • Last 30 Days • Ever
UrbanTurf has compiled virtual looks at large new developments around the DC region.... read »

The 11th Street Bridge Park project is progressing through the approval process.... read »

To illustrate the rise in prices, UrbanTurf analyzed four charts that show the path o... read »

The hyper-competitive, ever-shifting conditions of the DC-area housing market are cha... read »

A new condominium and townhome community called Venue will debut the best views and m... read »
- A Virtual Tour of More Than 35 DC-Area Developments
- 11th Street Bridge Park on Track for Completion in 2024
- The 9-Year Trajectory of DC Home Prices in Four Charts
- The Price is Right? How Home Pricing and Buying Strategies Are Changing in DC's Competitive Market
- Old Town's Newest Riverside Development Is Already Over 50% Sold
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
Unique Spaces
Awesome and unusual real estate from across the DC Metro