The Long & Foster Market Minute

Focus On: Georgetown Housing Market April 2019

Zip Code(s): 20007
Units Sold
51
Active Inventory
112
Median Sale Price
$925,000
Days On Market
35
Up 11%
Vs. Year Ago
Down -7%
Vs. Year Ago
Down -21%
Vs. Year Ago
Down -35%
Vs. Year Ago

Units Sold
There was an increase in total units sold in April, with 51 sold this month in Georgetown Real Estate. This month's total units sold was higher than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 8 units or 7%. The total number of active inventory this April was 112 compared to 120 in April 2018. This month's total of 112 is lower than the previous month's total supply of available inventory of 120, a decrease of 7%.

Median Sale Price
Last April, the median sale price for Georgetown Homes was $1,170,000. This April, the median sale price was $925,000, a decrease of 21% or $245,000 compared to last year. The current median sold price is 4% 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
82
Current Contracts
66
Sold Vs. List Price
98.4%
Months of Supply
2.2
Down -15%
Vs. Year Ago
No Change
Vs. Year Ago
Up 0.6%
Vs. Year Ago
Down -16%
Vs. Year Ago

Months of Supply
In April, there was 2.2 months of supply available in Georgetown, compared to 2.6 in April 2018. That is a decrease of 16% 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 82 homes newly listed for sale in Georgetown compared to 97 in April 2018, a decrease of 15%. There were 66 current contracts pending sale this April, consistent with the volume a year ago. The number of current contracts is 27% higher than last month.

Sale Price to List Price Ratio
In April, the average sale price in Georgetown was 98.4% of the average list price, which is 0.6% higher than at this time last year.

Days on Market
This month, the average number of days on market was 35, lower than the average last year, which was 54, a decrease of 35%.

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.