Georgetown Neighborhood of Washington DC Real Estate Analysis

History


Early history






The Old Stone House, built 1765, is one of the oldest buildings in Washington, D.C.



Situated on the fall line, Georgetown was the farthest point upstream that oceangoing boats could navigate the Potomac River. In 1632, English fur trader Henry Fleet documented a Native American village of the Nacotchtank people called Tohoga on the site of present-day Georgetown and established trade there.[1] The area was then part of the Province of Maryland, a British colony.

George Gordon constructed a tobacco inspection house along the Potomac in approximately 1745. The site was already a tobacco trading post when the inspection house was built. Warehouses, wharves, and other buildings were then constructed around the inspection house, and it quickly became a small community. It did not take long before Georgetown grew into a thriving port, facilitating trade and shipments goods from colonial Maryland.[2]

In 1751, the legislature of the Province of Maryland authorized the purchase of 60 acres (240,000 m2) of land from Gordon and George Beall at the price of £280.[3] A survey of the town was completed in February 1752.[4] Since Georgetown was founded during the reign of George II of Great Britain, some speculate that the town was named after him. Another theory is that the town was named after its founders, George Gordon and George Beall.[citation needed] The Maryland Legislature formally issued a charter and incorporated the town in 1789.[5] Robert Peter, an early area merchant in the tobacco trade, became Georgetown’s first mayor in 1790.[6]

Col. John Beatty established the first church in Georgetown, a Lutheran church on High Street. Stephen Bloomer Balch established a Presbyterian Church in 1784. In 1795, the Trinity Catholic Church was built, along with a parish school-house. St. John’s Episcopal Church was built in 1803. Banks in Georgetown included the Farmers and Mechanics Bank, which was established in 1814. Other banks included the Bank of Washington, Patriotic Bank, Bank of the Metropolis, and the Union and Central Banks of Georgetown.[7]

Newspapers in Georgetown included the Republican Weekly Ledger, which was the first paper, started in 1790. The Sentinel was first published in 1796 by Green, English & Co. Charles C. Fulton began publishing the Potomac Advocate, which was started by Thomas Turner. Other newspapers in Georgetown included the Georgetown Courier and the Federal Republican. William B. Magruder, the first postmaster, was appointed on February 16, 1790, and in 1795, a custom house was established on Water Street. General James M. Lingan served as the first collector of the port.[7]

In the 1790s, City Tavern, the Union Tavern, and the Columbian Inn opened and were popular throughout the 19th century.[8] Of these taverns, only the City Tavern remains today, as a private social club (the City Tavern Club) located near the corner of Wisconsin Avenue and M Street.

Establishment of the federal capital


George Washington frequented Georgetown, including Suter’s Tavern where he worked out many land deals from there to acquire land for the new Federal City.[9] A key figure in the land deals was a local merchant named Benjamin Stoddert, who arrived in Georgetown in 1783. He had previously served as Secretary to the Board of War under the Articles of Confederation. Stoddert partnered with General Uriah Forrest to become an original proprietor of the Potomac Company.[10]

Stoddert and other Potomac landowners agreed to a land transfer deal to the federal government at a dinner at Forrest’s home in Georgetown on March 28, 1791. Stoddert bought land within the boundaries of the federal district, some of it at the request of Washington for the government, and some on speculation. He also purchased stock in the federal government under Hamilton’s assumption-of-debt plan. The speculative purchases were not, however, profitable and caused Stoddert much difficulty before his appointment as Secretary of the Navy to John Adams. Stoddert was rescued from his debts with the help of William Marbury, later of Marbury v. Madison fame, and also a Georgetown resident. He ultimately owned Halcyon House at the corner of 34th and Prospect Streets.[10] The Forrest-Marbury House on M Street is currently the embassy of Ukraine.

After the establishment of the federal capital, Georgetown became an independent municipal government within the District of Columbia, along with the City of Washington, the City of Alexandria, and the newly created County of Washington and County of Alexandria (now Arlington County, Virginia).

19th century






Georgetown around 1862. Overview of the C&O Canal, Aqueduct Bridge at right, and unfinished Capitol dome in the distant background.



By the 1820s, the Potomac River had become silted up and was not navigable up to Georgetown. Construction of the Chesapeake & Ohio Canal began in July 1828, to link Georgetown to Harper’s Ferry, Virginia (now West Virginia). The canal was completed on October 10, 1850, at a cost $77,041,586. The canal turned out not to be profitable, never living up to expectations with construction of the Baltimore & Ohio Railroad.[11]

The Canal nonetheless provided an economic boost for Georgetown. In the 1820s and 1830s, Georgetown was an important shipping center. Tobacco and other goods were transferred between the canal and shipping on the Potomac River. As well, salt was imported from Europe, and sugar and molasses were imported from the West Indies.[7] These shipping industries were later superseded by coal and flour industries, which flourished with the C & O Canal providing cheap power for mills and other industry.[12] In 1862, the Washington and Georgetown Railroad Company began a horsecar line running along M Street in Georgetown and Pennsylvania Avenue in Washington, easing travel between the two cities.




Sailing vessels docked at the Georgetown waterfront, ca. 1865



The municipal governments of Georgetown and the City of Washington were formally revoked by Congress effective June 1, 1871, at which point its governmental powers were vested within the District of Columbia.[13] The streets in Georgetown were renamed in 1895 to conform to the street names in use in Washington.[14]

By the late 19th century, flour milling and other industries in Georgetown were declining, in part due to the fact that the canals and other waterways continually silted up.[15] Nathaniel Michler and S.T. Abert led efforts to dredge the channels and remove rocks around the Georgetown harbor, though these were temporary solutions and Congress showed little interest in the issue.[16] An 1890 flood and expansion of the railroads brought destitution to the C&O Canal, and Georgetown’s waterfront became more industrialized, with narrow alleys, warehouses, and apartment dwellings which lacked plumbing or electricity. Shipping trade vanished between the Civil War and World War I.[17] As a result, many older homes were preserved relatively unchanged.

20th century






P Street NW features conduit streetcar tracks installed in the 1890s, unused since 1960



In 1915, the Buffalo Bridge (on Q Street) opened and connected this part of Georgetown with the rest of the city east of Rock Creek Park. Soon thereafter, new construction of large apartment buildings began on the edge of Georgetown. In the early 1920s, John Ihlder led efforts to take advantage of new zoning laws to get restrictions enacted on construction in Georgetown.[18] A 1933 study by Horace Peaslee and Allied Architects laid out ideas for how Georgetown could be preserved.[19]

The C & O Canal, then owned by the Baltimore & Ohio Railroad, formally ceased operations in March 1924. After severe flooding in 1936, B & O Railroad sold the canal to the National Park Service in October 1938.[20] The waterfront area retained its industrial character in the first half of the 20th century. Georgetown was home to a lumber yard, a cement works, the Washington Flour mill, and a meat rendering plant, with incinerator smokestacks and a power generating plant for the old Capital Traction streetcar system, located at the foot of Wisconsin Avenue, which closed in 1935, and was demolished in October 1968. In 1949, the city constructed the Whitehurst Freeway, an elevated highway above K Street, to allow motorists entering the District over the Key Bridge to bypass Georgetown entirely on their way downtown.

In 1950, Public Law 808 was passed, establishing the historic district of “Old Georgetown.”[21] The law required that the United States Commission of Fine Arts be consulted on any alteration, demolition, or building construction within the historic district.[22]

Georgetown is one of the more affluent neighborhoods in Washington and home to many of the politicians and lobbyists. Georgetown’s landmark waterfront district’s was further revitalized in 2003 and includes upscale hotels such as a Westin, a Ritz-Carlton, and a Four Seasons.[23] Georgetown’s highly traveled commercial district is home to a variety of specialty retailers and fashionable boutiques.

Notable residents






Shops along Wisconsin Avenue



Thomas Jefferson lived for some time in Georgetown while serving as vice president under President John Adams.[24] Georgetown was home to Francis Scott Key who arrived as a young lawyer in 1808 and resided on M Street. Dr. William Beanes, a relative of Key, captured the rear guard of the British Army while it was burning Washington during the War of 1812. When the mass of the army retreated, they retrieved their imprisoned guard and took Dr. Beanes as a captive to their fleet near Baltimore. Key went to the fleet to request the release of Beanes, was held until the bombardment of Fort McHenry was completed, and gained the inspiration for “The Star-Spangled Banner“.

Alexander Graham Bell‘s earliest switching office for the Bell System was located on a site just below the C&O Canal, and it remains in use as a phone facility to this day. Bell originally moved to Georgetown due to the numerous legal hearings related to telephone patents, but then later created the Volta Laboratory and stayed on due to the area’s profusion of scientific and technical organizations which became established in the region.[25][26]

John F. Kennedy lived in Georgetown in the 1950s as both a Congressman and a Senator. Parties hosted by his wife, Jackie, and many other Georgetown hostesses drew political elites away from downtown clubs and hotels or the upper 16th Street corridor. Kennedy went to his presidential inauguration from his townhouse at 3307 N Street in January 1961.

Current residents include Secretary of State John Kerry, past Washington Post Editor Ben Bradlee, Washington Post Watergate reporter and current assistant managing editor Bob Woodward, former Secretary of State Madeleine Albright, and Montana Senator Max Baucus, among others.

For More Information Georgetown Neighborhood of Washington DC Visit http://en.wikipedia.org/wiki/Georgetown_%28Washington,_D.C.%29

Washington Real Estate Market Stats

Average Home Values

Price Distribution


Home Averages

$463,800 Average Price
1,292Avg Home Size
1936Avg Year Built

Owners vs Renters

Local vs National Home Values

 LocalNational
Zillow Home Value Index $452,500 $169,200
Median Single Family Home Value $473,700 $168,700
Median Condo Value $444,900 $173,900
Median 2-Bedroom Home Value $458,900 $129,200
Median 3-Bedroom Home Value $474,300 $162,200
Median 4-Bedroom Home Value $720,600 $271,600
Percent Homes Decreasing 4.8% 21.8%
Percent Listing Price Reduction 24.5% 28.1%
Median List Price Per Sq Ft $421 $108
Median List Price $449,500 $199,000
Median Sale Price $463,800 $194,400
Homes For Sale 0 0
Homes Recently Sold 0 0
Property Tax $2,303 $2,080
Turnover (Sold Within Last Yr.) 5.6% 4.2%
Median Value Per Sq Ft $447 $113
1-Yr. Change 15% 5.6%
Homes For Sale By Owner Array Array
New Construction Array Array
Foreclosures Array Array

Local vs National Demographics

 LocalNational
Median Household Income 40,127 44,512
Single Males 23.7% 14.6%
Single Females 24.7% 12.5%
Median Age 36 36
Homes With Kids 19.3% 31.4%
Average Household Size 2 2
Average Commute Time (Minutes) 30 26

Washington Real Estate Listings

Active Listings in Washington

4207 LINNEAN AVE NW Washington, DC 20008
Photo of 4207 LINNEAN AVE NW, Washington, DC 20008 (MLS # DC8319681)
5 beds 6 baths $2,495,000
4816 HUTCHINS PL NW Washington, DC 20007
Photo of 4816 HUTCHINS PL NW, Washington, DC 20007 (MLS # DC8318379)
5 beds 5 baths 5,000 sqft $2,495,000
3312 R ST NW Washington, DC 20007
Photo of 3312 R ST NW, Washington, DC 20007 (MLS # DC8317590)
4 beds 4 baths 2,269 sqft $2,140,000
4929 GLENBROOK RD NW Washington, DC 20016
Photo of 4929 GLENBROOK RD NW, Washington, DC 20016 (MLS # DC8317548)
6 beds 9 baths 6,000 sqft $4,495,000
2120 DUNMORE LN NW Washington, DC 20007
Photo of 2120 DUNMORE LN NW, Washington, DC 20007 (MLS # DC8317443)
6 beds 7 baths 7,100 sqft $3,600,000
3102 P ST NW Washington, DC 20007
Photo of 3102 P ST NW, Washington, DC 20007 (MLS # DC8317336)
4 beds 3 baths $2,950,000
2305 BANCROFT PL NW Washington, DC 20008
Photo of 2305 BANCROFT PL NW, Washington, DC 20008 (MLS # DC8317271)
5 beds 7 baths $5,250,000
4600 LINNEAN AVE NW Washington, DC 20008
Photo of 4600 LINNEAN AVE NW, Washington, DC 20008 (MLS # DC8316695)
5 beds 7 baths $3,850,000
1155 23RD ST NW, Unit 8A Washington, DC 20037
Photo of 1155 23RD ST NW, Unit 8A, Washington, DC 20037 (MLS # DC8316207)
3 beds 4 baths 2,845 sqft $2,235,000
3031 NEWARK ST NW Washington, DC 20008
Photo of 3031 NEWARK ST NW, Washington, DC 20008 (MLS # DC8315892)
5 beds 5 baths $2,825,000
5368 27TH ST NW Washington, DC 20015
Photo of 5368 27TH ST NW, Washington, DC 20015 (MLS # DC8312484)
6 beds 8 baths 9,546 sqft $3,400,000
4911 LOUGHBORO RD NW Washington, DC 20016
Photo of 4911 LOUGHBORO RD NW, Washington, DC 20016 (MLS # DC8311910)
10 beds 8 baths $2,350,000
3614 PROSPECT ST NW Washington, DC 20007
Photo of 3614 PROSPECT ST NW, Washington, DC 20007 (MLS # DC8311234)
3 beds 4 baths $2,250,000
4863 Potomac Ave NW Washington, DC 20007
Photo of 4863 Potomac Ave NW, Washington, DC 20007 (MLS # DC8310631)
5 beds 6 baths 6,800 sqft $2,395,000
1312 19TH ST NW Washington, DC 20036
Photo of 1312 19TH ST NW, Washington, DC 20036 (MLS # DC8310655)
8 beds 7 baths 3,884 sqft $2,150,000
3101 CHAIN BRIDGE RD NW Washington, DC 20016
Photo of 3101 CHAIN BRIDGE RD NW, Washington, DC 20016 (MLS # DC8310095)
7 beds 11 baths $10,497,000
5416 SHERIER PL NW Washington, DC 20016
Photo of 5416 SHERIER PL NW, Washington, DC 20016 (MLS # DC8308836)
7 beds 6 baths 6,643 sqft $2,995,000
2962 Chain Bridge Rd Nw Washington, DC 20016
Photo of 2962 Chain Bridge Rd Nw, Washington, DC 20016 (MLS # DC8307972)
5 beds 9 baths $4,395,000
3264 S St Nw Washington, DC 20007
Photo of 3264 S St Nw, Washington, DC 20007 (MLS # DC8303336)
7 beds 6 baths $3,200,000
4150 LINNEAN AVE NW Washington, DC 20008
Photo of 4150 LINNEAN AVE NW, Washington, DC 20008 (MLS # DC8302340)
5 beds 5 baths $2,995,000

Sold Listings in Washington

3303 Water St Nw #N-8 Washington, DC 20007
Photo of 3303 Water St Nw #N-8, Washington, DC 20007 (MLS # DC8294004)
4 beds 5 baths 3,754 sqft $0
3003 O St Nw Washington, DC 20007
Photo of 3003 O St Nw, Washington, DC 20007 (MLS # DC8289138)
4 beds 6 baths $0
920 I St Nw #1005 Washington, DC 20001
Photo of 920 I St Nw #1005, Washington, DC 20001 (MLS # DC8295657)
2 beds 3 baths 2,200 sqft $0
2130 Bancroft Pl Nw Washington, DC 20008
Photo of 2130 Bancroft Pl Nw, Washington, DC 20008 (MLS # DC8276261)
2 beds 3 baths $0
4916 Rockwood Pkwy Nw Washington, DC 20016
Photo of 4916 Rockwood Pkwy Nw, Washington, DC 20016 (MLS # DC8273564)
5 beds 5 baths 4,100 sqft $0
3025 P St Nw Washington, DC 20007
5 beds 6 baths $0
3464 Macomb St Nw Washington, DC 20016
Photo of 3464 Macomb St Nw, Washington, DC 20016 (MLS # DC8272646)
5 beds 5 baths $0
3312 Newark St Nw Washington, DC 20008
Photo of 3312 Newark St Nw, Washington, DC 20008 (MLS # DC8266969)
6 beds 7 baths $0
5171 Manning Pl Nw Washington, DC 20016
Photo of 5171 Manning Pl Nw, Washington, DC 20016 (MLS # DC8255244)
6 beds 6 baths 5,500 sqft $0
1622 Beekman Pl Nw #D Washington, DC 20009
Photo of 1622 Beekman Pl Nw #D, Washington, DC 20009 (MLS # DC8250824)
3 beds 3 baths 1,494 sqft $0
2121 Leroy Pl Nw Washington, DC 20008
5 beds 6 baths $0
5001 Upton St Nw Washington, DC 20016
Photo of 5001 Upton St Nw, Washington, DC 20016 (MLS # DC8250501)
8 beds 6 baths $0
5827 Utah Ave Nw Washington, DC 20015
Photo of 5827 Utah Ave Nw, Washington, DC 20015 (MLS # DC8248033)
6 beds 5 baths $0
1645 31st St Nw Washington, DC 20007
Photo of 1645 31st St Nw, Washington, DC 20007 (MLS # DC8242532)
9 beds 13 baths $0
3265 N St Nw Washington, DC 20007
Photo of 3265 N St Nw, Washington, DC 20007 (MLS # DC8261718)
3 beds 5 baths $0
3527 Winfield Ln Nw Washington, DC 20007
Photo of 3527 Winfield Ln Nw, Washington, DC 20007 (MLS # DC8240563)
5 beds 6 baths 4,232 sqft $0
1403 30th St Nw Washington, DC 20007
Photo of 1403 30th St Nw, Washington, DC 20007 (MLS # DC8278423)
6 beds 7 baths $0
1111 23rd St Nw #S5f Washington, DC 20037
Photo of 1111 23rd St Nw #S5f, Washington, DC 20037 (MLS # DC8233062)
3 beds 4 baths 3,250 sqft $0
3815 Ingomar St Nw Washington, DC 20015
Photo of 3815 Ingomar St Nw, Washington, DC 20015 (MLS # DC8228357)
6 beds 5 baths 5,450 sqft $0
3045 Aberfoyle Pl Nw Washington, DC 20015
Photo of 3045 Aberfoyle Pl Nw, Washington, DC 20015 (MLS # DC8220143)
7 beds 10 baths 7,860 sqft $0

Walk Score for Washington



Washington School Data

Washington School Districts

District of Columbia Public Schools
PK-12 & ungraded
http://dcps.dc.gov/portal/site/DCPS/
Cesar Chavez Public Charter Schools for Public Policy
9-12
http://www.chavezschools.org/
Community Academy Public Charter School (Capcs)
K-8
http://www.capcs.org/
Next Step Public Charter School Agency
10-12 & ungraded
Carlos Rosario International PCS
n/a
Eagle Academy PCS
PK-3
Two Rivers Public Charter School Agency
PK-8
Appletree Early Learning Center PCS
PK
Bridges PCS
PK-1
Early Childhood Academy PCS
PK-3
LAYC Youth Build PCS
10-12 & ungraded
The William E. Doar, Junior Public Charter School for the Performing Arts
PK-5
http://www.wedjschool.us/
Education Strengthens Families (ESF) PCS
PK
Washington Latin Public Charter School
9-12
http://www.edline.net/pages/Washington_Latin_PCS
Septima Clark PCS
PK-6
Arts & Technology Academy PCS
PK-5
Booker T. Washington PCS
9-12 & ungraded
Capital City PCS
PK-8
Cesar Chavez Public Charter Schools for Public Policy
6-12
http://www.chavezschools.org/
Community Academy Public Charter School (CAPCS)
PK-8
http://www.capcs.org/
DC Bilingual PCS
PK-5
DC Prep Public Charter School
PK-8
http://www.dcprep.org/
E.L. Haynes PCS
PK-10
Friendship Public Charter School
PK-12
http://www.friendshipschools.org/
Imagine Hope Community Charter School
PK-8
http://www.hopecommunitycs.org/
Hospitality PCHS
9-12
Cedar Tree Academy Public Charter School
K
http://www.howardroadacademy.org/
Howard Univ. Math & Science Middle School
6-8
Hyde Leadership PCS
PK-12
Idea PCS
7-12
Ideal Academy Public Charter School
PK-8
https://www.iapcs.com/
KIPP PCS
PK-12
Lamb PCS
PK-5
Mary McLeod Bethune
PK-8
Maya Angelou PCS
6-12 & ungraded
Meridian PCS
PK-8
Nia Community PCS
PK-6
Options PCS
6-12
Paul PCS
6-9
Potomac PCS
PK-7
Roots PCS
PK-8
Sail PCS
K-8
Seed PCS
6-12
St. Coletta PCS
PK-12 & ungraded
E. Whitlow Stokes PCS
PK-6
Thurgood Marshall PCS
9-12
Tree of Life Community PCS
PK-8
Two Rivers PCS
PK-8
http://www.tworiverspcs.org/
Washington Latin Public Charter School
9-12
http://www.edline.net/pages/Washington_Latin_PCS
Washington Math Science PCS
9-12
The William E. Doar, Jr. Public Charter School for the Performing Arts
PK-12
http://www.wedjschool.us/
Achievement Preparatory Academy PCS
4-8
Center City PCS
PK-8
http://www.centercitypcs.org/
Imagine Southeast
PK-7
National Collegiate Preparatory PCS
9-12
Washington Yu Ying PCS
PK-5
Excel Academy PCS
PK-4
Inspired Teaching Demonstration PCS
PK-4
Shining Stars Montessori PCS
PK-1
Richard Wright PCS for Journalism and Media Arts PCS
8-12
BASIS DC PCS
5-8
Creative Minds PCS
PK-2
DC Scholars PCS
PK-3
Mundo Verde Bilingual PCS
PK-1
Ingenuity Preparatory
n/a
Sela PCS
n/a
Somerset PCS
n/a

Washington Schools

Murch Elementary School
PK-5, public
http://www.dcps.dc.gov/DCPS/murch
Moten Elementary School
PK, 1-5, public
http://www.dcps.dc.gov/DCPS/moten
Montgomery Elementary School
PK-6, public
Miner Elementary School
PK-5, public
http://www.dcps.dc.gov/DCPS/miner
Meyer Elementary School
PK-5, public
Merritt Middle School
PK-8, public
McGogney Elementary School
PK-6, public
Roosevelt High School @ MacFarland
9-12, public
http://www.dcps.dc.gov/DCPS/roosevelt
M.C. Terrell / McGogney Elementary School
PK-5, public
http://www.dcps.dc.gov/DCPS/mc-terrell
Takoma Education Campus
PK-8, public
http://www.takomaec.org
Stanton Elementary School
PK-5, public
http://www.dcps.dc.gov/DCPS/stanton
Duke Ellington School of the Arts
9-12 & ungraded, public
http://www.dcps.dc.gov/DCPS/ellington
Sousa Middle School
6-8, public
http://www.dcps.dc.gov/DCPS/sousa
Shaw Middle School @ Garnet-Patterson
6-8, public
http://www.dcps.dc.gov/DCPS/shaw
Ron Brown Middle School
6-8, public
http://www.dcps.dc.gov/DCPS/ron-brown
Shaed Education Campus
PK-8, public
Shadd Elementary School
n/a, public
Seaton Elementary School
PK-5, public
http://www.dcps.dc.gov/DCPS/seaton
Savoy Elementary School
PK-5, public
http://www.dcps.dc.gov/DCPS/savoy
Rudolph Elementary School
PK-6, public
Ross Elementary School
PK-5, public
http://www.dcps.dc.gov/DCPS/ross
River Terrace Elementary School
PK-5, public
Randle Highlands Elementary School
PK-5, public
http://www.dcps.dc.gov/DCPS/randle-highlands
Shepherd Elementary School
PK-5, public
http://www.dcps.dc.gov/DCPS/shepherd
Marie Reed Elementary School
PK-5, public
http://www.dcps.dc.gov/DCPS/mariehreed