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July's Georgetown/Burleith Market Report

Georgetown Burleith DC Latest Real Estate Market Data

Overall

In Georgetown/Burleith DC zip code 20007, new listings rose 6.3% from August 2011, while New Pending Sales rose 2.9% from the same time last year. Closed sales were down 1.9% for the same period.

Median Sold Price rose 6.8% from August 2011.

Georgetown Burleith DC Latest Real Estate Market Data

Detached Homes

In Georgetown/Burleith DC zip code 20007, the median sold price for Detached properties for August was $1,260,000, representing a decrease of 39.1% compared to last month and an increase of 57.5% from Aug 2011.

The average days on market for units sold in August was 50 days, 22% below the 5-year August average of 64 days. There was an 88.9% month over month decrease in new contract activity with 1 New Pendings; a 71.4% MoM decrease in All Pendings (new contracts + contracts carried over from July) to 4; and a 6.7% decrease in supply to 28 active units.

This activity resulted in a Contract Ratio of 0.14 pendings per active listing, down from 0.47 in July and a decrease from 0.21 in August 2011. The Contract Ratio is 25% lower than the 5-year August average of 0.19.

More Georgetown Burleith DC Latest Real Estate Market Data

Georgetown Burleith DC Latest Real Estate Market Data

Attached/Townhomes

In 20007, the median sold price for Attached/Townhouse properties for August was $935,000, representing a decrease of 9.2% compared to last month and an increase of 6.3% from Aug 2011.

The average days on market for units sold in August was 65 days, the same as the 5-year August average of 64 days. There was a 13.3% month over month increase in new contract activity with 17 New Pendings; an

8.6% MoM decrease in All Pendings (new contracts + contracts carried over from July) to 32; and a 13.3% decrease in supply to 52 active units.

This activity resulted in a Contract Ratio of 0.62 pendings per active listing, up from 0.58 in July and an increase from 0.35 in August 2011. The Contract Ratio is 47% higher than the 5-year August average of 0.42.

*A higher Contract Ratio signifies a relative increase in contract activity compared to supply, and indicates the market is moving in the seller's favor. A lower Contract Ratio signifies a relative decrease in contract activity compared to supply, and indicates the market is moving in the buyer's favor.

Condos and Co-Ops

In 20007, the median sold price for Condo & Coop properties for August was $374,000, representing a decrease of 4.1% compared to last month and a decrease of 13.7% from Aug 2011.

The average days on market for units sold in August was 67 days, 26% below the 5-year August average of 90 days.

There was a 13.3% month over month increase in new contract activity with 17 New Pendings; a 27.3% MoM decrease in All Pendings (new contracts + contracts

carried over from July) to 16; and a 3.6% decrease in supply to 54 active units.

This activity resulted in a Contract Ratio of 0.30 pendings per active listing, down from 0.39 in July and an increase from 0.17 in August 2011. The Contract Ratio is 13% higher than the 5-year August average of 0.27.

*A higher Contract Ratio signifies a relative increase in contract activity compared to supply, and indicates the market is moving in the seller's favor. A lower Contract Ratio signifies a relative decrease in contract activity compared to supply, and indicates the market is moving in the buyer's favor.

Real estate market data provided by RBI (Real Estate Business Intelligence)

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