The Georgetown Metropolitan

It’s a great time to sell a house in Georgetown. And three charts can explain why.

The first chart is a chart of the inventory of homes for sale in Georgetown since January 2018. As you can see, the inventory of homes for sale were on the higher side through most of 2020. But after dropping during the normal winter lull, the homes just never came back. In March 2020, there were 78 homes for sale in Georgetown. This March it was 42.

The second chart tracks the number of home sales in Georgetown. And despite there being so few homes for sale this spring, there were more homes going under contract this March than since April 2018. The buyers simply cleaned out the shelves.

In short, if you think you might want to sell your house in Georgetown in the next year or so, you probably ought to consider moving up those plans. GM knows of at least one neighbor who did just that. They listed the home at a price GM thought was a bit of a reach and yet it went under contract in two days.

Time will tell how long this situation lasts…

Good morning Georgetown, here’s the latest:

• The median home price in Georgetown now exceeds $1.6 million.
• ICYMI: the movie about Viola Drath’s murder was released and you can see it over at Union Market.

Signage appears to show that the troubled Mono Diner is giving it another go.

Back in March 2019, Mono Diner was opened at 1424 Wisconsin Ave. It was opened by Mohammad Esfahani, who has a troubled history in and around Georgetown. For example, he caused a building collapse at 1329 Wisconsin Ave. in 2002 when he put a tar machine on its roof. And in 2014 he caused 1424 Wisconsin Ave. to also partially collapse. Against this backdrop, he and his brother got into a big fight with his business partner in Z-Burger, a small burger chain they owned. He ended up with one of the locations up in Glover Park and renamed it All About Burger.

Good morning Georgetown, here’s the latest:

• In praise of the humble shad, a popular target of Georgetown anglers.
• Green Almond Pantry opening on Grace St. today.

Yesterday, the Mayor announced dramatic pull-backs on a wide range of Covid restrictions. Most notably, she called for capacity limitations on restaurants to be removed by May 21st. Bars would follow on June 11th.

Right now, restaurants can only fill their inside dining to 25% of the normal capacity. Additionally, tables are required to meet spacing restrictions. Both of these rules will be lifted on May 21st. So in just two weeks, Georgetown restaurants can return to full indoor capacity.

Georgetown restaurants appear to have ultimately weathered the pandemic fairly well, all things considered. We lost a couple coffee shops (Bluestone Lane, Le Pain Quotidien, Paul Bakery, one of the Starbucks, and Peet’s), and a handful of lunch spots (District Pizza, Johnny Rockets, Luke’s Lobster, Sundavich, Subway, and Wisey’s). But only a few sit-down restaurants closed, including America Eats Tavern, Don Lobo’s, High Street Cafe, and Zannchi. Obviously not great to lose them, but it could easily have been a lot worse.

Good morning Georgetown, here’s the latest:

• Why Eastbanc decided to host the Sandlot instead of moving forward with an apartment building.
• GU is going to hold an in-person commencement, but it will be at Nationals Park.