Is Georgetown, DE a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Georgetown was a Seller's Market.
Housing Prices in Georgetown, DE
How much do homes in Georgetown, DE cost?
Median Sold Price
$370,000
$210/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Georgetown was $370,000 in May 2024, up 1.1% from last year, and the median price per square foot was $210.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $75K | N/A |
2 Bedrooms | $232.5K | $295K | +26.9% |
3 Bedrooms | $360K | $379.9K | +5.5% |
4 Bedrooms | $440K | $356K | -19.1% |
5+ Bedrooms | $435K | $565K | +29.9% |
Summary: Georgetown housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 26.9%, 3 bedroom homes increased by 5.5%, 4 bedroom homes decreased by 19.1%, and 5+ bedroom homes increased by 29.9%.
Housing Supply in Georgetown, DE
How many homes are available in Georgetown, DE?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
112 | 115 | +2.7% |
Summary: The Georgetown real estate market had 115 homes for sale in May 2024, a 2.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 11 | 8 | -27.3% |
3 Bedrooms | 76 | 77 | +1.3% |
4 Bedrooms | 23 | 27 | +17.4% |
5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Georgetown housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 27.3%, 3 bedroom homes increased by 1.3%, 4 bedroom homes increased by 17.4%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
15 | 10 | -33.3% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 10 homes were sold or pending in Georgetown in May 2024, down by 33.3% month-over-month. Of the 10 sold homes, 50% were sold under asking, 20% were sold at asking, and 30% were sold over asking.
Days on Market for Georgetown, DE
How long does it take to sell a home in Georgetown, DE?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
64 Days | 81 Days | +26.8% |
Summary: Homes in Georgetown had an average of 81 days on market in May 2024, up by 26.8% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During May 2024, 10 homes were sold in Georgetown; 30% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 40% of homes were sold over 90 days.