To understand what’s happening in the market in Georgetown, you have to really look at the numbers carefully.
The number of sales is barely lower than they were two years ago. And today’s sales are taking a tiny bit less time to sell. But what about the their prices?
If you just look at the changes in the average sales prices, today’s numbers don’t look fabulous. The averages are about 86 percent of what they were two years ago, and 89 percent of last year’s. But in 2007, there was a single huge estate that sold for $25 million – that can skew things a little bit. And the highest number in 2008 a sale for $11,500,000. Year to date, there haven’t been any big ones. The largest so far is only $5 million.
When you look at the median prices, the numbers look a whole lot better. They’ve increased each year.
So bottom line, I think the numbers help to tell a story, but you have to look behind them for the real story.
And here are those numbers:
- Year 2009 2008 2007
- Number Sold 70 72 74
- Average List Price $1,609,055 $1,771,253 $1,807,035
- Average Sold Price $1,486,186 $1,663,385 $1,710,514
- Median List Price $1,360,000 $1,295,000 $1,249,000
- Median Sold Price $1,250,000 $1,261,000 $1,175,000
- Average Days on Market 94 105 100
Sometimes it's called the Buffalo Bridge, because it has four big old buffaloes, two at each end, that welcome people to Georgetown. And sometimes it's called the Dumbarton Bridge, because when it was built, they had to move Dumbarton House, a huge Federal style mansion, a couple fo blocks west of its original site. Whatever you want to call it, this bridge that links Georgetown and Dupont Circle is one of my favorites in Washington.
It was built between 1914 and 1915 by Glenn and Bedford Brown, a father and son architect team. The design was tricky, because the streets it connected didn't quite line up. This meant the bridge, with five large arches, had to curve a little bit. 
The bridge originally had, in addition to the four buffaloes, 56 carvings that were modeled on a Sioux Indian Chief, known as Kicking Bear. But I didn't see them - I hope whoever removed them took them to a safe place, like the Smithsonian!
For many decades, Georgetown has been a favorite Washington neighborhood for many of the politicians, journalists, lawyers, and all the other charachters who make life in this city so interesting. So when I meet new buyers who are relocating here to DC, this historic place is often at the top of their list.
During the first six months of this year, Georgetown bucked the national trends. In most parts of the country, more houses are selling for less money. In Georgetown, there were fewer sales with higher average and median sales prices.
If you or one of your clients is looking for a great house in Georgetown, there's a pretty Victorian bayfrong for sale at 
The idea was to pick up some, oh I dunno, healthy stuff. Zuchinni, cucumbers, cherries, raspberries, peaches, maybe some herbs to plant in my “garden” once I pull out all the weeds.
