Is Germantown, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Germantown is a seller's market

Buyer's
Market

Difference Since April 2023

At the same time last year, Germantown was a Buyer'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, TN

How much do homes in Germantown, TN cost?

Median Sold Price

$495,750

$135/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$45,750(+10.2%)

Key Takeaway

Homes in Germantown have sold for 10.2% more than they did a year ago.

Summary: The median home sold price in Germantown was $495,750 in April 2024, up 10.2% from last year, and the median price per square foot was $135.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 -$206K
N/A
2 $252.5K$242K
-4.2%
3 $317.5K$382K
+20.3%
4 $457K$500K
+9.4%
5+ $700K$723K
+3.3%

Summary: Germantown housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 4.2%, 3 bedroom homes increased by 20.3%, 4 bedroom homes increased by 9.4%, and 5+ bedroom homes increased by 3.3%.

Median Sold Price Compared To Nearby Cities

Germantown
+10.2%
Collierville
+3.3%
Memphis
-2.1%
Cordova
-3.1%

Housing Supply in Germantown, TN

How many homes are available in Germantown, TN?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
204240+17.6%

Summary: The Germantown real estate market had 240 homes for sale in April 2024, a 17.6% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 01
+100.0%
2 1310
-23.1%
3 4244
+4.8%
4 90109
+21.1%
5+ 5976
+28.8%

Summary: The Germantown housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 23.1%, 3 bedroom homes increased by 4.8%, 4 bedroom homes increased by 21.1%, and 5+ bedroom homes increased by 28.8%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
5147-7.8%

Asking Price vs. Sold Price

26 Homes Were Sold
Under Asking

12 Homes Were Sold
At Asking

9 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Germantown, you may be able to get a good deal. 55.3% of homes here sold below asking price last month.

Summary: A total of 47 homes were sold or pending in Germantown in April 2024, down by 7.8% month-over-month. Of the 47 sold homes, 55% were sold under asking, 26% were sold at asking, and 19% were sold over asking.

Days on Market for Germantown, TN

We’re sorry, we don't have information for this market at the moment

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 22 Days Ago

Newest Listings in Germantown, TN

Nearby Markets to Germantown, TN

What housing markets are near Germantown, TN?