Is Germantown, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Germantown has remained a Seller's Market.
Key Takeaway
Germantown is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Germantown, MD
How much do homes in Germantown, MD cost?
Median Sold Price
$400,000
$252/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Germantown have sold for 3.9% more than they did a year ago.
Summary: The median home sold price in Germantown was $400,000 in April 2024, up 3.9% from last year, and the median price per square foot was $252.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $209.9K | $220K | +4.8% |
| 2 Bedrooms | $270K | $305K | +13.0% |
| 3 Bedrooms | $395K | $420.8K | +6.5% |
| 4 Bedrooms | $577.7K | $600K | +3.9% |
| 5+ Bedrooms | $717.9K | $827.5K | +15.3% |
Summary: Germantown housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.8%, 2 bedroom homes increased by 13%, 3 bedroom homes increased by 6.5%, 4 bedroom homes increased by 3.9%, and 5+ bedroom homes increased by 15.3%.
Housing Supply in Germantown, MD
How many homes are available in Germantown, MD?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 138 | 150 | +8.7% |
Summary: The Germantown real estate market had 150 homes for sale in April 2024, a 8.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 7 | 5 | -28.6% |
| 2 Bedrooms | 39 | 45 | +15.4% |
| 3 Bedrooms | 60 | 58 | -3.3% |
| 4 Bedrooms | 27 | 31 | +14.8% |
| 5+ Bedrooms | 5 | 11 | +120.0% |
Summary: The Germantown housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 28.6%, 2 bedroom homes increased by 15.4%, 3 bedroom homes decreased by 3.3%, 4 bedroom homes increased by 14.8%, and 5+ bedroom homes increased by 120%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 59 | 45 | -23.7% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
12 Homes Were Sold
At Asking
24 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Germantown, you could pay more than the asking price. 53.3% of homes here sold above asking price last month.
Summary: A total of 45 homes were sold or pending in Germantown in April 2024, down by 23.7% month-over-month. Of the 45 sold homes, 20% were sold under asking, 27% were sold at asking, and 53% were sold over asking.
Days on Market for Germantown, MD
How long does it take to sell a home in Germantown, MD?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 11 Days | 14 Days | +26.8% |
Summary: Homes in Germantown had an average of 14 days on market in Apr 2024, up by 26.8% compared to last year.
Breakdown of Home Sale Times
42 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Germantown are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 45 homes were sold in Germantown; 93% of homes were sold within 30 days, 4% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.
