Is Germantown, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Germantown was a Seller's Market.
Key Takeaway
Germantown is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Germantown, TN
How much do homes in Germantown, TN cost?
Median Sold Price
$629,000
-
Based on all homes sold in November 2023.
Difference Since Last Month
Key Takeaway
Homes in Germantown have sold for 11.3% more than they did a month ago.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $206K | $342K | +66.0% |
| 3 Bedrooms | $355K | $404.9K | +14.1% |
| 4 Bedrooms | $537.5K | $629K | +17.0% |
| 5+ Bedrooms | $741.5K | $1.0M | +37.6% |
Summary: Germantown housing prices by bedroom type for November 2023 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 66%, 3 bedroom homes increased by 14.1%, 4 bedroom homes increased by 17%, and 5+ bedroom homes increased by 37.6%.
Median Sold Price Compared To Nearby Cities
| Eads | $420K | $657.5K | +56.5% |
| Germantown | $565K | $629K | +11.3% |
| Memphis | $185.1K | $181.1K | -2.1% |
| Collierville | $550.5K | $535K | -2.8% |
| Cordova | $325K | $298.2K | -8.2% |
Housing Supply in Germantown, TN
How many homes are available in Germantown, TN?
Number of Homes For Sale
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 175 | 164 | -6.3% |
Summary: The Germantown real estate market had 164 homes for sale in November 2023, a 6.3% decrease compared to October 2023.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 7 | 8 | +14.3% |
| 3 Bedrooms | 22 | 23 | +4.5% |
| 4 Bedrooms | 90 | 81 | -10.0% |
| 5+ Bedrooms | 56 | 52 | -7.1% |
Summary: The Germantown housing inventory by bedroom type for November 2023 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 14.3%, 3 bedroom homes increased by 4.5%, 4 bedroom homes decreased by 10%, and 5+ bedroom homes decreased by 7.1%.
Number of Homes Sold
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 61 | 19 | -68.9% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Germantown, you may be able to get a good deal. 52.6% of homes here sold below asking price last month.
Summary: A total of 19 homes were sold or pending in Germantown in November 2023, down by 68.9% month-over-month. Of the 19 sold homes, 53% were sold under asking, 26% were sold at asking, and 21% were sold over asking.
