With the spring housing market underway, UrbanTurf is taking its annual look at the neighborhood markets around the DC region. Last week, we looked at Capitol Hill and today we head over to Georgetown.
Perennially one of DC's most expensive housing markets in DC, Georgetown remains in that category in 2020 with a median home price above $1 million despite prices dropping 14 percent year-over-year. Cash sales are still prevalent representing one out every four sales in the neighborhood this year. The inventory of homes for sale sits at just under three months, and it will be interesting to see how that number change given the recent stay-at-home orders.
Below are some additional statistics we picked out about the Georgetown market.
- $1.037 million -- The median sales price of a home in Georgetown so far in 2020, down 14 percent compared to last year.
- $7.53 million -- The average sales price for a detached home with 4 or more bedrooms in 2020, up 34 percent from last year thanks to a few big sales.
- 25 percent -- The proportion of all-cash home sales this year.
- 2.8 months -- The supply of homes for sale in March, up slightly for last year.
- $780 -- The median price per square foot in 2020, up 12 percent from 2019.
Photo courtesy of HomeVisit.
This article originally published at https://dc.urbanturf.com/articles/blog/still-one-of-dcs-priciest-the-georgetown-housing-market-by-the-numbers/16738.
Most Popular... This Week • Last 30 Days • Ever
In this edition of First-Timer Primer, we look into the question of how to determine ... read »
The preferred mortgage product among most home buyers is the fixed-rate mortgage. How... read »
Here's what you need to know about reporting profit made from the sale of your home.... read »
A Roth IRA is one of those accounts that people feel is totally off limits until you ... read »
The latest edition of What $1.5 Million Buys includes a Falls Chuch home reminiscent ... read »
UrbanTurf has compiled virtual looks at large new developments around the DC region.... read »
Why condo fees are high in some buildings and low in others can be a difficult questi... read »
Virginia's homebuyer assistance programs can seem complex. This edition of First-Time... read »
When sellers haven't quite lined up their next house before their settlement date com... read »
In this edition of First Timer Primer, we take a closer look at what you are actually... read »
With this weekend's DC houseboat tour a day away, UrbanTurf thought it only fitting t... read »
President Obama travels to Denver this morning to sign the stimulus bill that has bee... read »
In this week's installment of Ask An Agent, a reader wonders if there is a rule for h... read »
As The Wharf prepares to begin construction, DC's houseboat community heads to its ne... read »
In this week's installment of Ask An Agent, a reader asks a fairly common question th... read »
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!
Intro guides for first-time home buyers
Awesome and unusual real estate from across the DC Metro