What's happening in Georgetown real estate?

Photo by flickr.org

Take heart!  Things are definitely looking up in Georgetown real estate.  We had ten new contracts in the village in February 2011. The properties ranged in asking price from $699,500 to $2.75 Million, with a median price of $1.19 Million. These houses were on the market for an average of three months.

These statistics are not only consistent with historical numbers, but are almost identical to closings that occurred in the same month.

There were ten closings in February. The range in price was from $663,000 to $5.4 Million.  Even with that vast range, the median sales still booked in at $1.2 Million.  That median sale amount has been pretty consistent in Georgetown month after month for several years. So the statistics are saying our prices are not down. Not up, maybe, but not down.

Sold properties closed after being on the market for just under 4 months, and settled 7% under asking price on the average.  This not a bad number. 

Do you have a property that is not performing up to these numbers?  Has your house been on the market for more than three months without an offer?

If so, you need to re-evaluate how your home is being marketed.  Is the asking price aggressive enough to stand up to your competition?  Does the house sparkle? If not, is that reflected in the price?  Is your marketing campaign correct and appropriate?

There are lots of different strategies for getting a property sold in a timely manner.  Stay tuned.