The perfect intersection of historic charm and upscale Modernity!
Georgetown is a historic neighborhood, commercial, and entertainment district located in northwest Washington, D.C., situated along the Potomac River. Founded in 1751 in the Province of Maryland, the port of the neighborhood predated the establishment of the federal district and the City of Washington by 40 years. The neighborhood remained a separate municipality until 1871, when the United States Congress created a new consolidated government for the whole District of Columbia. A separate act passed in 1895 specifically repealed Georgetown’s remaining local ordinances and renamed Georgetown’s streets to conform with those in the City of Washington.
The primary commercial corridors of these historic community are the intersection of Wisconsin Avenue and M Street, which contain high-end shops, bars, restaurants, and the Georgetown Park enclosed shopping mall, as well as the Washington Harbour waterfront restaurants at K Street, between 30th and 31st Streets.
The community is home to the main campus of Georgetown University and numerous other landmarks, such as the Volta Bureauand the Old Stone House, the oldest unchanged building in Washington. The embassies of Cameroon, France, Kosovo,Iceland, Liechtenstein, Mongolia, Sweden, Thailand, Ukraine and Venezuela are located in these neighborhood.
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Location in these neighborhood is largely defined by whether you live east of Wisconsin Avenue in the so-called East Village, or west of Wisconsin Avenue in the West Village. The cobblestone and streetcar rail-lined streets of the West Village are sometimes the deciding factor when a buyer can’t decide between the two sections of the neighborhood.
Both areas are primarily dominated by Federal row houses, and narrow ones at that. The joke around DC is that you can stand in the living rooms of some residences of these expensive district community, spread your arms and touch both walls. Many of these homes are more than 200 years old and have been well maintained or restored. They vary in size and style ranging from turreted Victorians to low, boxy Colonials.
There are a few condo developments scattered around the neighborhood. Near the Potomac River is 3303 Water Street, a modern building that was developed in 2004, and Wormley Row, a converted schoolhouse on Prospect Street, will soon start the townhouse phase of its project that will be complete next summer.
Home Prices Remain Some of the Highest in Washington DC
A neighborhood with a national reputation, walkable streets, and a peaceful atmosphere near the heart of the city doesn’t come cheap. The average sales price of a two-bedroom house is currently $860,000; three-bedroom homes are selling for an average of $1.35 million. It’s all about the zip code,
“You can get a cool little house for $500,000, but it’ll be very small,” local Realtor explained. “What’s available in the lower price ranges are for people who really want to be in these historic neighborhood.”
Condos aren’t much cheaper. While the odd 1980s-era one-bedroom unit might sell for around $350,000, the average list price is currently $847,000.
For renters, though, options abound. One-bedroom apartments can be found in tall buildings or in the basements of row houses, running anywhere from $1,500 to $4,500 or more per month.
Alex Rouse, who rents the second floor of a small colonial house with his girlfriend, thinks that rents in the area are about as affordable as in Logan Circle where he used to live.
The Bottom Line
The communities reputation will always make it a safe yet prohibitively expensive place to buy a home. For some, the charm and amenities make having the local address—and paying the associated steep prices—worth it. For others, the neighborhood will best be enjoyed during occasional visits.
Information Deemed Reliable, but Not Guaranteed. The property information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The listing information provided on this website comes from various brokers who participate in the Metropolitan Regional Information Systems IDX program.