The Long & Foster Market Minute

Focus On: Georgetown Housing Market April 2020

Zip Code(s): 20007
Units Sold
37
Active Inventory
106
Median Sale Price
$1,175,000
Days On Market
19
Down -30%
Vs. Year Ago
Down -8%
Vs. Year Ago
Up
Vs. Year Ago
Down -32%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in April, with 37 sold this month in Georgetown Real Estate versus 46 last month, a decrease of 20%. This month's total units sold was lower than at this time last year, a decrease of 30% versus April 2019.

Active Inventory
Versus last year, the total number of homes available this month is lower by 9 units or 8%. The total number of active inventory this April was 106 compared to 115 in April 2019. This month's supply remained stable as compared to last month.

Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last April, the median sale price for Georgetown Homes was $910,000. This April, the median sale price was $1,175,000, an increase of $265,000 compared to last year. The current median sold price is higher than in March.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
46
Current Contracts
28
Sold Vs. List Price
100.1%
Months of Supply
2.9
Down -43%
Vs. Year Ago
Down -58%
Vs. Year Ago
Up 1.7%
Vs. Year Ago
Up 32%
Vs. Year Ago

Months of Supply
In April, there was 2.9 months of supply available in Georgetown, compared to 2.2 in April 2019. That is an increase of 32% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

New Listings & Current Contracts
This month there were 46 homes newly listed for sale in Georgetown compared to 81 in April 2019, a decrease of 43%. There were 28 current contracts pending sale this April compared to 67 a year ago. The number of current contracts is 58% lower than last April.

Sale Price to List Price Ratio
In April, the average sale price in Georgetown was 100.1% of the average list price, which is 1.7% higher than at this time last year.

Days on Market
This month, the average number of days on market was 19, lower than the average last year, which was 28, a decrease of 32%.

The Long & Foster Market Minute Georgetown is defined as properties in zip code 20007.
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by BRIGHTMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of BRIGHTMLS or Long & Foster Real Estate, Inc.