Deep Dive - Georgetown - June 2023 - Real estate market

In just a few minutes you will know more about Georgetown real estate than almost anyone! ALEX Labs and ALEX Studios provide ALEX Partners (Agents and Brokers) and their clients with resources like this to have deep intelligence and have genius real estate knowledge.

GEORGETOWN DEEP DIVE JUNE 2023 vs. MAY 2023

Sales Activity:
- The number of sales increased by 8% compared to May 2023.
- The total Net Sales Dollar Volume* increased by 10% from May 2023.
Average and Median Net Sale Prices*:
- The average and median Net Sale Prices* both increased slightly compared to May 2023 (by 2% and 6%, respectively).
- Similarly, the average and median list prices (the price at which a property is initially listed for sale) also increased from May 2023 (by 3% and 5%, respectively), but saw a decrease from the previous years.
Property Value:
- There was no change in the average and median Net Sale Prices* per square foot from May 2023. However, both these metrics decreased by 16% and 15%, respectively, compared to June 2022.
- The average and median list price per square foot saw little change from May 2023, but decreased by 11% compared to June 2022.
Discounts from List Price:
- The properties on average are selling at 8.6% less than their list prices, which is 9% lower than May 2023.
- The median discount from list price was 5.7% less than their list prices, a decrease of 3% from May 2023.
Time for a Home to be Contracted:
- The average cumulative days on market (the number of days a property is listed before it sells) was 84.24 days in June 2023, roughly the same as May 2023.
- The median days on market was 45.50 days, which is a 9% decrease from May 2023.

These statistics indicate a shift in the Georgetown real estate market, with properties taking longer to sell and often selling for less than their listing price compared to the previous years. However, there is a slight uptick in sales activity and total Net Sales Price* compared to the previous month, indicating potential recovery.

* Net Sale Price = Sale Price
LESS Seller Paid Repairs to Meet Buyer Demands
LESS Seller Paid Buyer Closing Costs like interest rate buydowns

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Diane Hart Alexander, MBA, MHA, CEO, Broker
Alexander Tiffany Southwest dba ALEX.realestate
Chairman, ALEX Cares
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PS – If you are an Agent or Broker and want to be a Georgetown real estate genius, contact me! Why ALEX? Best. Diane

GEORGETOWN SUMMARY TABLE