The Long & Foster Market Minute

Focus On: Georgetown Housing Market September 2018

Zip Code(s): 20007
Units Sold
34
Active Inventory
148
Median Sale Price
$944,000
Days On Market
30
Down -6%
Vs. Year Ago
Up 8%
Vs. Year Ago
Up 5%
Vs. Year Ago
Down -30%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in September, with 34 sold this month in Georgetown Real Estate versus 42 last month, a decrease of 19%. This month's total units sold was lower than at this time last year, a decrease of 6% versus September 2017.

Active Inventory
Versus last year, the total number of homes available this month is higher by 11 units or 8%. The total number of active inventory this September was 148 compared to 137 in September 2017. This month's total of 148 is higher than the previous month's total supply of available inventory of 126, an increase of 17%.

Median Sale Price
Last September, the median sale price for Georgetown Homes was $898,252. This September, the median sale price was $944,000, an increase of 5% or $45,748 compared to last year. The current median sold price is 2% lower than in August.

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


New Listings
95
Current Contracts
49
Sold Vs. List Price
98.2%
Months of Supply
4.4
Down -2%
Vs. Year Ago
Up 11%
Vs. Year Ago
No Change
Vs. Year Ago
Up 14%
Vs. Year Ago

Months of Supply
In September, there was 4.4 months of supply available in Georgetown, compared to 3.8 in September 2017. That is an increase of 14% 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 95 homes newly listed for sale in Georgetown compared to 97 in September 2017, a decrease of 2%. There were 49 current contracts pending sale this September compared to 44 a year ago. The number of current contracts is 11% higher than last September.

Sale Price to List Price Ratio
In September, the average sale price in Georgetown was 98.2% of the average list price, which is similar compared to a year ago.

Days on Market
This month, the average number of days on market was 30, lower than the average last year, which was 43, a decrease of 30%.

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 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.