Eclipsing $2 Million: The Georgetown Housing Market, By The Numbers

  • April 29th

by UrbanTurf Staff

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A Georgetown condo that sold just before the end of the year.

With the spring housing market in full swing, UrbanTurf is taking its annual look at the neighborhood markets around the DC region. Today we head over to Georgetown.

A regular inclusion as one of DC's most expensive housing markets, Georgetown remains in that category in 2024. The average home price this year is $2.055 million, up 21% compared to the first three months of 2023. Whether its an increase in prices or a smaller supply of homes on the market, sales are down about 10% in the neighborhood, in line with a drop in sales seen around the rest of the city. Cash sales, however, remain prevalent, accounting for 6 in 10 transactions in 2024.

Below are some additional statistics we picked out about the Georgetown market. 

  • 39 -- The number of sales in Georgetown this year, down 10% compared to last year.
  • 61% -- The proportion of all-cash home sales this year. 
  • 33% -- The percentage of homes to sell in 10 days or less in 2024. 
  • $837 -- The median price per square foot in 2024, up 14% compared to last March.

Photo courtesy of Sean Shanahan. 

This article originally published at https://dc.urbanturf.com/articles/blog/eclipsing_2_million_the_georgetown_housing_market_by_the_numbers/22243.

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