In this week's report, the number of homes sold in the Georgetown market slid to one over the past 30 days, a decrease of 50.0% from last week's report, but still above the monthly average. In comparison, nearby Milford had 16 sales in the same time frame, the most of all neighboring cities. Prices are falling in Georgetown, and this period the median price of all sales fell from $216,000 to $210,000.
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With 6,422 residents, Georgetown is a larger than average city in Delaware. However, with an 18.6% increase over the last 10 years, it ranks first in terms of growth. Georgetown is made up of homes that are considered relatively old with a median of 31 years. The top school in the city is Sussex Technical High School.
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The Georgetown market saw one home go under contract, and failed to break out of an established downward trend. The market had total home sales of two over the last 30 days, maintaining last week's pace. The median sales price of all transactions in Georgetown did not budge this week, remaining at $216,000. With only two months of inventory to sell, Georgetown is a still definite seller's market, even after taking into consideration the falling contracts numbers.
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$167K  
Sales in the Georgetown market remained level with two homes sold over the past 30 days. However, the number of sellers reducing their listing price is still in the midst of a downward trend with zero price reductions in the same time frame. While the number of price reductions trended lower, months of inventory is on a four-week downward trend, this week hitting two months. In spite of the decrease in sales, the lack of inventory signals that Georgetown is still a definite seller's market.
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$167K  
While home sales in the Georgetown market have been better than usual, in this week's report they dropped 50.0% to two homes sold over the last 30 days. Within the same time frame, Milford had 18 sales, the most of all cities in the area. The median sales price in Georgetown rose dramatically to $198,500 while months of inventory shot up to four.
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$167K  
Sales rose to four homes sold in the Georgetown market over the last 30 days. However, an emerging downturn in the amount of pending transactions continued, with zero completed in the same period. Prices are rising in Georgetown, and the median sales price this period increased from $41,275 to $108,137. Along with the increase in sales, the fact that there are a lower-than-normal two months of inventory indicates that Georgetown is a definite seller's market.
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$167K  
The number of homes coming into the Georgetown market stayed firm with zero listings over the last 30 days, while sales remained right where they were as once again three homes were sold over the same period. The median sales price remained unchanged over the latest reporting period for Georgetown, coming in at $41,275. There are only two months of inventory available in Georgetown, so it's a strong seller's market, even if sales are flat.
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Georgetown is a small city in Delaware, and is much less affluent than average with a median income of $40,044 per household. It's much older than the rest of the state, with a median age of 29. Georgetown is an area where 45.1% of the homes are owned, while 45.9% are rented. The best school in the city is Sussex Technical High School.
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$167K  
Over the last 30 days, the Georgetown market made strides with three homes sold, a 50.0% increase from last week's report. Within the same time frame, Milford had 13 sales, the most of all cities in the area. The median sales price climbed to $41,275 over the latest reporting period for Georgetown, up from $41,262. With just two months of inventory available and sales going up, Georgetown is a solid seller's market.
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$167K  
The number of home sales in the Georgetown market climbed 100.0% to two homes over the last 30 days, above the 0.4 monthly average. Within the same time frame, Milford had eight sales, the most of all cities in the area. There are four months of inventory remaining in Georgetown, and the market is swinging toward the seller, but that may be offset as the median sales price tumbled to $41,262 this week.
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