$10,000 Closing Credit*
$1,010,000
934 SqFt
1 Bed
•1 Full Bath
Paul R Newton, Listing Office: Washington Fine Properties, LLC
Is Georgetown, DC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since December 2023
Since last year, Georgetown has remained a Seller's Market.
Key Takeaway
Georgetown is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Georgetown, DC
How much do homes in Georgetown, DC cost?
Median Sold Price
$1,580,000
$915/sqft
Based on all homes sold in the last 12 months.
Difference Since December 2023
+$35,000(+2.3%)
Key Takeaway
Homes in Georgetown have sold for 2.3% more than they did a year ago.
Summary: The median home sold price in Georgetown was $1,580,000 in December 2024, up 2.3% from last year, and the median price per square foot was $915.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $517K | $549K | +6.2% |
| 2 Bedrooms | $1.0M | $1.1M | +4.8% |
| 3 Bedrooms | $1.8M | $1.7M | -6.3% |
| 4 Bedrooms | $2.9M | $3.0M | 0.3% |
| 5+ Bedrooms | $3.0M | $3.7M | +23.9% |
Summary: Georgetown housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.2%, 2 bedroom homes increased by 4.8%, 3 bedroom homes decreased by 6.3%, 4 bedroom homes increased by 0.3%, and 5+ bedroom homes increased by 23.9%.
Median Sold Price Compared To Nearby Neighborhoods
| East Village | $1.3M | $1.4M | +10.3% |
| Georgetown | $1.5M | $1.5M | +2.3% |
| West Village | $1.8M | $1.6M | -8.1% |
| West End | $960K | $795K | -17.2% |
Housing Supply in Georgetown, DC
How many homes are available in Georgetown, DC?
Number of Homes For Sale
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 83 | 80 | -3.6% |
Summary: The Georgetown real estate market had 80 homes for sale in December 2024, a 3.6% decrease compared to November 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 10 | 12 | +20.0% |
| 2 Bedrooms | 28 | 23 | -17.9% |
| 3 Bedrooms | 13 | 12 | -7.7% |
| 4 Bedrooms | 12 | 11 | -8.3% |
| 5+ Bedrooms | 20 | 22 | +10.0% |
Summary: The Georgetown housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 20%, 2 bedroom homes decreased by 17.9%, 3 bedroom homes decreased by 7.7%, 4 bedroom homes decreased by 8.3%, and 5+ bedroom homes increased by 10%.
Number of Homes Sold
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 14 | 16 | +14.3% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Georgetown, you may be able to get a good deal. 81.3% of homes here sold below asking price last month.
Summary: A total of 16 homes were sold or pending in Georgetown in December 2024, up by 14.3% month-over-month. Of the 16 sold homes, 81% were sold under asking, 6% were sold at asking, and 13% 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
| Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|
| 43 Days | 130 Days | +201.0% |
Summary: Homes in Georgetown had an average of 130 days on market in Dec 2024, up by 201% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Georgetown are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During December 2024, 16 homes were sold in Georgetown; 31% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 44% of homes were sold over 90 days.
