Georgetown median sale price is $1,155,000, down -4.9% since last year

[Anonymous]

On the heals of the the other thread re price drops in NW DC: According to Redfin, Georgetown median sale price is $1,155,000, down -4.9% since last year .

[Anonymous]

Seems like that could swing with a $20m sales here and there. Didn't one of the mega houses sell last year for that?

[Anonymous]

Anonymous wrote:Seems like that could swing with a $20m sales here and there. Didn't one of the mega houses sell last year for that?

never mind, that would only affect the average, not the median.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Seems like that could swing with a $20m sales here and there. Didn't one of the mega houses sell last year for that?

never mind, that would only affect the average, not the median.

It would affect the median as well, but not dramatically. Just as much as a $1.5m sale.

Op, what's the sample size?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Seems like that could swing with a $20m sales here and there. Didn't one of the mega houses sell last year for that?

never mind, that would only affect the average, not the median.

It would affect the median as well, but not dramatically. Just as much as a $1.5m sale.

Op, what's the sample size?

It was based on the 29 homes sold during that period.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Seems like that could swing with a $20m sales here and there. Didn't one of the mega houses sell last year for that?

never mind, that would only affect the average, not the median.

It would affect the median as well, but not dramatically. Just as much as a $1.5m sale.

Op, what's the sample size?

It was based on the 29 homes sold during that period.

Given that and the variance in prices in Georgetown, I’d say the info in the thread’s headline is noise, not signal.

[Anonymous]

It just seems to be that Gtown properties are sitting on the market much longer.

[Anonymous]

Anonymous wrote:It just seems to be that Gtown properties are sitting on the market much longer.

+1.

[Anonymous]

Anonymous wrote:It just seems to be that Gtown properties are sitting on the market much longer.

That's because there are so many other, less expensive, metro accessible options!

[Anonymous]

Homes in gtown are up only like 15% over last five years. Taking inflation into account they have not gone up in price in five years.

[Anonymous]

https://www.redfin.com/DC/Washington/1562-33rd-St-NW-20007/home/9930255

Single family home in G=town under 800K

[Anonymous]

Anonymous wrote:https://www.redfin.com/DC/Washington/1562-33rd-St-NW-20007/home/9930255

Single family home in G=town under 800K

994 sq ft tho!

[Anonymous]

Anonymous wrote:https://www.redfin.com/DC/Washington/1562-33rd-St-NW-20007/home/9930255

Single family home in G=town under 800K

This house is in need of MAJOR structural repair - no thanks!

[Anonymous]

Anonymous wrote:

Anonymous wrote:https://www.redfin.com/DC/Washington/1562-33rd-St-NW-20007/home/9930255

Single family home in G=town under 800K

994 sq ft tho!

We have an end unit. Very tiny bit bigger and on quiet East Village street vs West (university side). We have been renting out since 2007. Bought $600k in '04.

I haven't been falling market close like I used to, but I gaged ours worth around $775-780k.

It's the worst time of year for sellers, btw, going into Holiday season and dead of winter. Buyers might be able to get a steal.

[Anonymous]

Anonymous wrote:Homes in gtown are up only like 15% over last five years. Taking inflation into account they have not gone up in price in five years.

The BLS says inflation over the last 5 years is 7.81%.

I really wish people wouldn't post "statistics" they pull form their ass.