Is Germantown, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 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
$500,000
$135/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Germantown have sold for 9.4% more than they did a year ago.
Summary: The median home sold price in Germantown was $500,000 in March 2024, up 9.4% from last year, and the median price per square foot was $135.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $206K | N/A |
| 2 Bedrooms | $252.5K | $240.9K | -4.6% |
| 3 Bedrooms | $320K | $385K | +20.3% |
| 4 Bedrooms | $475K | $500K | +5.3% |
| 5+ Bedrooms | $700K | $748K | +6.9% |
Summary: Germantown housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 4.6%, 3 bedroom homes increased by 20.3%, 4 bedroom homes increased by 5.3%, and 5+ bedroom homes increased by 6.9%.
Median Sold Price Compared To Nearby Cities
| Germantown | $457K | $500K | +9.4% |
| Cordova | $317.9K | $300K | -5.6% |
Housing Supply in Germantown, TN
How many homes are available in Germantown, TN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 183 | 213 | +16.4% |
Summary: The Germantown real estate market had 213 homes for sale in March 2024, a 16.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 12 | 13 | +8.3% |
| 3 Bedrooms | 32 | 46 | +43.8% |
| 4 Bedrooms | 82 | 90 | +9.8% |
| 5+ Bedrooms | 57 | 64 | +12.3% |
Summary: The Germantown housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 8.3%, 3 bedroom homes increased by 43.8%, 4 bedroom homes increased by 9.8%, and 5+ bedroom homes increased by 12.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 39 | 43 | +10.3% |
Asking Price vs. Sold Price
24 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Germantown, you may be able to get a good deal. 55.8% of homes here sold below asking price last month.
Summary: A total of 43 homes were sold or pending in Germantown in March 2024, up by 10.3% month-over-month. Of the 43 sold homes, 56% were sold under asking, 19% were sold at asking, and 26% 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
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Germantown are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 43 homes were sold in Germantown; 2% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% 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.