It’s been a while since I did any deep analysis of Georgetown’s real estate market. But I’ve been noticing the prices getting a little out of control recently, so I decided to see whether the stats backed up that observation. And they certainly do.
I compared the first six months of this year to the first six months of last year (to capture to same annual cycles). And even considering that June isn’t even over yet, volume is up. Price is up, too.
From Jan. 1, 2012, to June 30, 2012, there were 94 properties sold in Georgetown. The average price was $1.39 million. But average prices for real estate, especially in Georgetown, can be easily skewed by a few extremely expensive homes. Looking instead to the far more meaningful median number, that was $1.01 million. Even more informative is that the average price per square foot was $689 (the median was only a shade lower at $670).
[Continue reading Topher Mathews’s post here at The Georgetown Metropolitan.]
Topher Mathews blogs at The Georgetown Metropolitan . The Local Blog Network is a group of bloggers from around the D.C. region who have agreed to make regular contributions to All Opinions Are Local.