With the spring housing market underway, UrbanTurf is taking its annual look at the neighborhood markets around the DC region. Today we head over to Georgetown.
Perennially one of DC's most expensive housing markets, Georgetown remains in that category in 2022, as home prices have gone up significantly compared to last year. The average home price in 2022 is $2.135 million, up 25% compared to the first three months of 2021. Despite the increase in prices, sales are up slightly compared to the first quarter of last year. Cash sales are still prevalent representing 43% of sales in the neighborhood this year.
Below are some additional statistics we picked out about the Georgetown market.
- $2.135 million -- The average sales price of a home in Georgetown so far in 2022.
- 18 -- The median number of days that homes are spending on the market, down 44% compared to last year.
- 43% -- The proportion of all-cash home sales this year.
- 1.8 months -- The supply of homes for sale in March, down 10% compared to last year.
- $817 -- The median price per square foot in 2022, up 9% compared to last March.
Photo courtesy of HomeVisit.
This article originally published at https://dc.urbanturf.com/articles/blog/still-one-of-dcs-priciest-the-georgetown-market-by-the-numbers/19532.
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