Is Germantown, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Germantown was a Seller's Market.
Housing Prices in Germantown, PA
How much do homes in Germantown, PA cost?
Median Sold Price
$190,000
$135/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Germantown was $190,000 in May 2024, up 0.1% from last year, and the median price per square foot was $135.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $282K | $285K | +1.1% |
2 Bedrooms | $100K | $150K | +50.0% |
3 Bedrooms | $175K | $174.1K | -0.5% |
4 Bedrooms | $220K | $185.5K | -15.7% |
5+ Bedrooms | $288.9K | $284.5K | -1.5% |
Summary: Germantown housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.1%, 2 bedroom homes increased by 50%, 3 bedroom homes decreased by 0.5%, 4 bedroom homes decreased by 15.7%, and 5+ bedroom homes decreased by 1.5%.
Median Sold Price Compared To Nearby Neighborhoods
Olney / Oak Lane | $190K | $194K | +2.1% |
Germantown | $189.9K | $190K | 0.1% |
Germantown / Chestnut Hill | $300.5K | $294.9K | -1.8% |
Ogontz | $180K | $176.5K | -1.9% |
West Logan | $206K | $145K | -29.6% |
Housing Supply in Germantown, PA
How many homes are available in Germantown, PA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
188 | 191 | +1.6% |
Summary: The Germantown real estate market had 191 homes for sale in May 2024, a 1.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 6 | 7 | +16.7% |
2 Bedrooms | 27 | 25 | -7.4% |
3 Bedrooms | 90 | 81 | -10.0% |
4 Bedrooms | 39 | 46 | +17.9% |
5+ Bedrooms | 26 | 32 | +23.1% |
Summary: The Germantown housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 16.7%, 2 bedroom homes decreased by 7.4%, 3 bedroom homes decreased by 10%, 4 bedroom homes increased by 17.9%, and 5+ bedroom homes increased by 23.1%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
23 | 22 | -4.3% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Summary: A total of 22 homes were sold or pending in Germantown in May 2024, down by 4.3% month-over-month. Of the 22 sold homes, 45% were sold under asking, 27% were sold at asking, and 27% were sold over asking.
Days on Market for Germantown, PA
How long does it take to sell a home in Germantown, PA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
57 Days | 47 Days | -18.9% |
Summary: Homes in Germantown had an average of 47 days on market in May 2024, down by 18.9% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During May 2024, 22 homes were sold in Germantown; 50% of homes were sold within 30 days, 36% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.