Is Georgetown, DC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Georgetown has remained a Buyer's Market.
Key Takeaway
Georgetown is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Georgetown, DC
How much do homes in Georgetown, DC cost?
Median Sold Price
$1,490,250
$840/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Georgetown have sold for 3.7% more than they did a year ago.
Summary: The median home sold price in Georgetown was $1,490,250 in March 2024, up 3.7% from last year, and the median price per square foot was $840.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $500K | $560K | +12.0% |
| 2 Bedrooms | $987.5K | $1.0M | +3.8% |
| 3 Bedrooms | $1.6M | $1.9M | +15.7% |
| 4 Bedrooms | $2.2M | $2.9M | +32.5% |
| 5+ Bedrooms | $3.0M | $3.1M | +2.1% |
Summary: Georgetown housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 12%, 2 bedroom homes increased by 3.8%, 3 bedroom homes increased by 15.7%, 4 bedroom homes increased by 32.5%, and 5+ bedroom homes increased by 2.1%.
Median Sold Price Compared To Nearby Neighborhoods
| West End | $665.2K | $944.9K | +42.1% |
| East Village | $1.1M | $1.3M | +20.0% |
| West Village | $1.6M | $1.8M | +10.3% |
| Georgetown | $1.4M | $1.4M | +3.7% |
Housing Supply in Georgetown, DC
How many homes are available in Georgetown, DC?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 145 | 166 | +14.5% |
Summary: The Georgetown real estate market had 166 homes for sale in March 2024, a 14.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 34 | 35 | +2.9% |
| 2 Bedrooms | 36 | 44 | +22.2% |
| 3 Bedrooms | 36 | 43 | +19.4% |
| 4 Bedrooms | 18 | 21 | +16.7% |
| 5+ Bedrooms | 21 | 23 | +9.5% |
Summary: The Georgetown housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 2.9%, 2 bedroom homes increased by 22.2%, 3 bedroom homes increased by 19.4%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes increased by 9.5%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 9 | 13 | +44.4% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Georgetown, you may be able to get a good deal. 46.2% of homes here sold below asking price last month.
Summary: A total of 13 homes were sold or pending in Georgetown in March 2024, up by 44.4% month-over-month. Of the 13 sold homes, 46% were sold under asking, 15% were sold at asking, and 38% were sold over asking.
Days on Market for Georgetown, DC
How long does it take to sell a home in Georgetown, DC?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 58 Days | 45 Days | -21.7% |
Summary: Homes in Georgetown had an average of 45 days on market in Mar 2024, down by 21.7% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Georgetown are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 13 homes were sold in Georgetown; 69% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 23% of homes were sold over 90 days.
