Is Germantown / Chestnut Hill, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Germantown / Chestnut Hill was a Seller's Market.
Key Takeaway
Germantown / Chestnut Hill is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Germantown / Chestnut Hill, PA
How much do homes in Germantown / Chestnut Hill, PA cost?
Median Sold Price
$295,448
$195/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Germantown / Chestnut Hill have sold for 3.6% less than they did a year ago.
Summary: The median home sold price in Germantown / Chestnut Hill was $295,448 in April 2024, down 3.6% from last year, and the median price per square foot was $195.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $240K | $250K | +4.2% |
| 2 Bedrooms | $260K | $230K | -11.5% |
| 3 Bedrooms | $240K | $270.9K | +12.9% |
| 4 Bedrooms | $380K | $300K | -21.1% |
| 5+ Bedrooms | $520K | $590K | +13.5% |
Summary: Germantown / Chestnut Hill housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.2%, 2 bedroom homes decreased by 11.5%, 3 bedroom homes increased by 12.9%, 4 bedroom homes decreased by 21.1%, and 5+ bedroom homes increased by 13.5%.
Median Sold Price Compared To Nearby Neighborhoods
| Mount Airy | $376K | $395K | +5.1% |
| Roxborough | $350K | $360K | +2.9% |
| Germantown | $189.9K | $186K | -2.1% |
| Germantown / Chestnut Hill | $306.3K | $295.4K | -3.6% |
| Wissahickon | $354K | $337.4K | -4.7% |
Housing Supply in Germantown / Chestnut Hill, PA
How many homes are available in Germantown / Chestnut Hill, PA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 303 | 352 | +16.2% |
Summary: The Germantown / Chestnut Hill real estate market had 352 homes for sale in April 2024, a 16.2% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 6 | 8 | +33.3% |
| 2 Bedrooms | 41 | 40 | -2.4% |
| 3 Bedrooms | 138 | 161 | +16.7% |
| 4 Bedrooms | 61 | 74 | +21.3% |
| 5+ Bedrooms | 57 | 69 | +21.1% |
Summary: The Germantown / Chestnut Hill housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes decreased by 2.4%, 3 bedroom homes increased by 16.7%, 4 bedroom homes increased by 21.3%, and 5+ bedroom homes increased by 21.1%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 59 | 55 | -6.8% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
13 Homes Were Sold
At Asking
28 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Germantown / Chestnut Hill, you could pay more than the asking price. 50.9% of homes here sold above asking price last month.
Summary: A total of 55 homes were sold or pending in Germantown / Chestnut Hill in April 2024, down by 6.8% month-over-month. Of the 55 sold homes, 25% were sold under asking, 24% were sold at asking, and 51% were sold over asking.
Days on Market for Germantown / Chestnut Hill, PA
How long does it take to sell a home in Germantown / Chestnut Hill, PA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 72 Days | 40 Days | -43.5% |
Summary: Homes in Germantown / Chestnut Hill had an average of 40 days on market in Apr 2024, down by 43.5% compared to last year.
Breakdown of Home Sale Times
34 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
10 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Germantown / Chestnut Hill are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 55 homes were sold in Germantown / Chestnut Hill; 62% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 18% of homes were sold over 90 days.
