The Long & Foster Market Minute

Focus On: Georgetown Housing Market October 2018

Zip Code(s): 20007
Units Sold
50
Active Inventory
157
Median Sale Price
$1,028,550
Days On Market
54
No Change
Vs. Year Ago
Up 12%
Vs. Year Ago
Up 4%
Vs. Year Ago
No Change
Vs. Year Ago

Units Sold
There was an increase in total units sold in October, with 50 sold this month in Georgetown Real Estate, an increase of 32%. This month's total units sold is similar compared to a year ago.

Active Inventory
Versus last year, the total number of homes available this month is higher by 17 units or 12%. The total number of active inventory this October was 157 compared to 140 in October 2017. This month's total of 157 is higher than the previous month's total supply of available inventory of 150, an increase of 5%.

Median Sale Price
Last October, the median sale price for Georgetown Homes was $989,258. This October, the median sale price was $1,028,550, an increase of 4% or $39,292 compared to last year. The current median sold price is 4% higher than in September.

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


New Listings
71
Current Contracts
43
Sold Vs. List Price
97.6%
Months of Supply
3.1
Up 4%
Vs. Year Ago
Down -2%
Vs. Year Ago
Down -0.9%
Vs. Year Ago
Up 12%
Vs. Year Ago

Months of Supply
In October, there was 3.1 months of supply available in Georgetown, compared to 2.8 in October 2017. That is an increase of 12% 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 71 homes newly listed for sale in Georgetown compared to 68 in October 2017, an increase of 4%. There were 43 current contracts pending sale this October compared to 44 a year ago. The number of current contracts is 2% lower than last October.

Sale Price to List Price Ratio
In October, the average sale price in Georgetown was 97.6% of the average list price, which is 0.9% lower than at this time last year.

Days on Market
This month, the average number of days on market was 54, which is similar compared to a year ago.

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.