Is Germantown, TN 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 Buyer'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
$690,000
$537/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Germantown have sold for 16% more than they did a year ago.
Summary: The median home sold price in Germantown was $690,000 in April 2024, up 16% from last year, and the median price per square foot was $537.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $487.5K | $467.4K | -4.1% |
| 2 Bedrooms | $595K | $616K | +3.5% |
| 3 Bedrooms | $900K | $955K | +6.1% |
| 4 Bedrooms | $1.1M | $800K | -28.9% |
| 5+ Bedrooms | - | - | N/A |
Summary: Germantown housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 4.1%, 2 bedroom homes increased by 3.5%, 3 bedroom homes increased by 6.1%, 4 bedroom homes decreased by 28.9%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| Germantown | $595K | $690K | +16.0% |
| North Nashville | $555K | $564.6K | +1.7% |
| Salemtown | $812K | $792.5K | -2.4% |
Housing Supply in Germantown, TN
How many homes are available in Germantown, TN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 17 | 21 | +23.5% |
Summary: The Germantown real estate market had 21 homes for sale in April 2024, a 23.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 5 | +25.0% |
| 2 Bedrooms | 6 | 6 | 0.0% |
| 3 Bedrooms | 5 | 7 | +40.0% |
| 4 Bedrooms | 1 | 2 | +100.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Germantown housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25%, 2 bedroom homes remained the same, 3 bedroom homes increased by 40%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 2 | 2 | 0.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Germantown, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Germantown in April 2024, the same as the previous month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Germantown, TN
How long does it take to sell a home in Germantown, TN?
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Germantown are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During April 2024, 2 homes were sold in Germantown; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 100% of homes were sold over 90 days.
Listings courtesy of RealTracs Middle Tennessee Regional MLS as distributed by MLS GRID.
© 2024 of the REALTRACS MLS. All rights Reserved.