Real Estate Result for First Half 2012

It’s time for Georgetown real estate number crunching for the first half of 2012! In short: they’re pretty much like they were the first half of 2011, which wasn’t too hot.

In long:

  • Total Homes Sold:
    • First Half 2011: 107
    • First Half 2012: 105
  • Average Starting Price:
    • First Half 2011: $ 1,471,836
    • First Half 2012: $ 1, 589,068 (without the Halcyon House price inflating this number, it would be about $1.44 million)
  • Average Selling Price:
    • First Half 2011: $1,307,922
    • First Half 2012: $1,410,085 (again, Halcyon House’s $11 million sale price is inflating this number. Without it the average would be $1.32 million.)
  • Average Drop in Price From List:
    • First Half 2011: 11.1% drop
    • First Half 2012: 10.7% drop
  • Average $ per Square Feet:
    • First Half 2011: $685.68 $/SQF
    • First Half 2012: $704.95 $/SQF

So once you disregard the unusual Halcyon House sale, pretty much all the metrics are nearly the same with the exception of the price per square foot, which went up slightly. This would suggest that homes sold for about the same this year, but they were smaller.

One caveat: square footage reports in the public records are often inaccurate. For instance, the record on GM’s house totally ignores the finished basement in the square footage. So the roughly two percent increase in square foot price could just be statistical noise.

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