The Long & Foster Market Minute

Focus On: Georgetown Housing Market August 2017

Zip Code(s): 20007
Units Sold
45
Active Inventory
93
Median Sale Price
$897,000
Days On Market
28
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Down -12%
Vs. Year Ago
Down -28%
Vs. Year Ago
Down -24%
Vs. Year Ago
Down -24%
Vs. Year Ago

Units Sold
There was an increase in total units sold in August, with 45 sold this month in Georgetown Real Estate versus 44 last month, an increase of 2%. This month's total units sold was lower than at this time last year, a decrease of 12% versus August 2016.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 37 units or 28%. The total number of active inventory this August was 93 compared to 130 in August 2016. This month's total of 93 is lower than the previous month's total supply of available inventory of 115, a decrease of 19%.

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Median Sale Price
Last August, the median sale price for Georgetown Homes was $1,175,000. This August, the median sale price was $897,000, a decrease of 24% or $278,000 compared to last year. The current median sold price is 1% lower than in July.

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

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New Listings
39
Current Contracts
33
Sold Vs. List Price
96.9%
Months of Supply
2.1
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Down -9%
Vs. Year Ago
No Change
Vs. Year Ago
Down -0.6%
Vs. Year Ago
Down -19%
Vs. Year Ago

Months of Supply
In August, there was 2.1 months of supply available in Georgetown, compared to 2.5 in August 2016. That is a decrease of 19% 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.

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New Listings & Current Contracts
This month there were 39 homes newly listed for sale in Georgetown compared to 43 in August 2016, a decrease of 9%. There were 33 current contracts pending sale this August, consistent with the volume a year ago. The number of current contracts is 21% lower than last month.

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Sale Price to List Price Ratio
In August, the average sale price in Georgetown was 96.9% of the average list price, which is 0.6% lower than at this time last year.

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Days on Market
This month, the average number of days on market was 28, lower than the average last year, which was 37, a decrease of 24%.

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The Long & Foster Market Minute *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 MRIS 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 MRIS or Long & Foster Real Estate, Inc.