The Long & Foster Market Minute

Focus On: Georgetown Housing Market January 2019

Zip Code(s): 20007
Units Sold
33
Active Inventory
99
Median Sale Price
$850,000
Days On Market
93
Up
Vs. Year Ago
Up 13%
Vs. Year Ago
Down -6%
Vs. Year Ago
Up
Vs. Year Ago

Units Sold
With relatively few transactions, there was a decrease in total units sold in January, with 33 sold this month in Georgetown Real Estate. This month's total units sold was higher than at this time last year, an increase from January 2018.

Active Inventory
Versus last year, the total number of homes available this month is higher by 11 units or 13%. The total number of active inventory this January was 99 compared to 88 in January 2018. This month's total of 99 is lower than the previous month's total supply of available inventory of 115, a decrease of 14%.

Median Sale Price
Last January, the median sale price for Georgetown Homes was $905,000. This January, the median sale price was $850,000, a decrease of 6% or $55,000 compared to last year. The current median sold price is 8% lower than in December.

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


New Listings
37
Current Contracts
31
Sold Vs. List Price
96.5%
Months of Supply
3.0
Up 19%
Vs. Year Ago
Up 82%
Vs. Year Ago
Up 2.6%
Vs. Year Ago
Down -18%
Vs. Year Ago

Months of Supply
In January, there was 3.0 months of supply available in Georgetown, compared to 3.7 in January 2018. That is a decrease of 18% 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 37 homes newly listed for sale in Georgetown compared to 31 in January 2018, an increase of 19%. There were 31 current contracts pending sale this January compared to 17 a year ago. The number of current contracts is 82% higher than last January.

Sale Price to List Price Ratio
In January, the average sale price in Georgetown was 96.5% of the average list price, which is 2.5% higher than at this time last year.

Days on Market
This month, the average number of days on market was 93, higher than the average last year, which was 61. This increase was impacted by the limited number of sales.

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.