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How Much is a House in Georgetown?
Find out how far your money will go in Georgetown. By Mary Yarrison
Handsome Federal and Victorian rowhouses, many from the 18th century, line the streets of Georgetown. Photograph by Jeff Elkins.
Comments () | Published September 19, 2012

Georgetown has long been one of Washington’s most expensive neighborhoods. Tom Anderson, president of Washington Fine Properties, says the reason is simple: “It’s historic and it’s finite—it can’t be expanded.”

In 2011, Georgetown ranked as the eighth-most expensive Zip code in the region, with a median sales price of $770,000. Most of the neighborhoods that beat it out are suburban areas where the homes are much larger. According to the real-estate brokerage Redfin, the median price per square foot in Georgetown over the past two years was $669; in Great Falls it was $282 and in Potomac $303.

How far does your money go in Georgetown? In July, a two-bedroom, 2½-bath Federal-style home on P Street, built in 1900 but with a recently renovated kitchen, sold for $1.02 million. In May, a five-bedroom, 5½-bath Victorian on 31st Street sold for $4.6 million.

Parking spots are often not included and typically sell for $25,000 to $75,000, although tax records show they’ve gone for more than $150,000.

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Posted at 09:00 AM/ET, 09/19/2012 RSS | Print | Permalink | Comments () | Washingtonian.com Articles