Ever wonder how much one of those charming Georgetown rowhomes are worth? We've all seen the neighborhood's pristine blocks encompassed with history and character. After listing a 2-bedroom, 1-bathroom rowhome in Georgetown a few months back, I thought I'd take a look at What's it cost to live in Georgetown?
- Homes in Georgetown (condos and co-ops excluded)
- Sold between January 1, 2015 and July 2015
- 63 total homes have been sold since January 2015, ranging from $550k to $5.7 million
- The average home sold for about $1.8 million
- The median home sold for about 1.625 million
What's it cost?
- 2 Bed / 1+ Bath - $550k to $2.195 million, with the average going for about $985k
- 3 Bed / 2+ Bath - $900k to $3 million, with the average going for about $1.5 million
- 4 Bed / 2+ Bath - $950k to $3.25 million, with the average going for about $2 million
- 5+ Bed / 3+ Bath - $1.25 million to $5.7 million, with the average going for about $3.2 million
Georgetown Average Home Sales
What does this mean to me?
Buyers: If you're thinking about purchasing a home in Georgetown, the average pad sold for about $1.8 million. They also sat on the market 90 days on average, but the median home sold in 11 days, so many of the homes are being swept up quickly. As you're thinking about purchasing your next home, begin working with an agent early in the process, not just when you find the home you want on the internet. Being proactive in a competitive real estate market is critical to getting your next home.
Sellers: In 2015, only 63 homes sold in Georgetown, and like many areas throughout the District, demand is high and supply is low. However, it's impossible to determine if and when this trend will end. If you're thinking about selling your home, take a few moments to answer a few questions about your place to receive a personalized analysis of your home.