Is Germantown, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 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, TN
How much do homes in Germantown, TN cost?
Median Sold Price
$481,218
$179/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Key Takeaway
Homes in Germantown have sold for 3.8% less than they did a year ago.
Summary: The median home sold price in Germantown was $481,218 in June 2024, down 3.8% from last year, and the median price per square foot was $179.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $206K | - | N/A |
| 2 Bedrooms | $274.2K | $235K | -14.3% |
| 3 Bedrooms | $370K | $380.9K | +3.0% |
| 4 Bedrooms | $485K | $487.6K | 0.5% |
| 5+ Bedrooms | $762.5K | $724.5K | -5.0% |
Summary: Germantown housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 14.3%, 3 bedroom homes increased by 3%, 4 bedroom homes increased by 0.5%, and 5+ bedroom homes decreased by 5%.
Median Sold Price Compared To Nearby Cities
| Cordova | $300.8K | $300K | -0.3% |
| Collierville | $544.9K | $536.7K | -1.5% |
| Germantown | $500K | $481.2K | -3.8% |
| Memphis | $209.2K | $191K | -8.7% |
Housing Supply in Germantown, TN
How many homes are available in Germantown, TN?
Number of Homes For Sale
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 248 | 264 | +6.5% |
Summary: The Germantown real estate market had 264 homes for sale in June 2024, a 6.5% increase compared to May 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 9 | 9 | 0.0% |
| 3 Bedrooms | 45 | 46 | +2.2% |
| 4 Bedrooms | 117 | 129 | +10.3% |
| 5+ Bedrooms | 76 | 79 | +3.9% |
Summary: The Germantown housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 2.2%, 4 bedroom homes increased by 10.3%, and 5+ bedroom homes increased by 3.9%.
Number of Homes Sold
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 63 | 50 | -20.6% |
Asking Price vs. Sold Price
24 Homes Were Sold
Under Asking
18 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Germantown, you may be able to get a good deal. 48% of homes here sold below asking price last month.
Summary: A total of 50 homes were sold or pending in Germantown in June 2024, down by 20.6% month-over-month. Of the 50 sold homes, 48% were sold under asking, 36% were sold at asking, and 16% were sold over asking.
Days on Market for Germantown, TN
We’re sorry, we don't have information for this market at the moment
Listings courtesy of RealTracs Middle Tennessee Regional MLS as distributed by MLS GRID.
© 2024 of the REALTRACS MLS. All rights Reserved.