Is Germantown, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Germantown is a seller's market

Buyer's
Market

Difference Since May 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

$489,357

$135/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$16,857(+3.6%)

Key Takeaway

Homes in Germantown have sold for 3.6% more than they did a year ago.

Summary: The median home sold price in Germantown was $489,357 in May 2024, up 3.6% from last year, and the median price per square foot was $135.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $206K-
N/A
2 $269K$235K
-12.6%
3 $365K$375K
+2.7%
4 $463K$495K
+6.9%
5+ $700K$726K
+3.7%

Summary: Germantown housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 12.6%, 3 bedroom homes increased by 2.7%, 4 bedroom homes increased by 6.9%, and 5+ bedroom homes increased by 3.7%.

Median Sold Price Compared To Nearby Cities

Germantown
+3.6%
Collierville
-1.2%
Cordova
-2.9%
Memphis
-7.1%

Housing Supply in Germantown, TN

How many homes are available in Germantown, TN?

Number of Homes For Sale

Apr 2024May 2024CHANGE
232266+14.7%

Summary: The Germantown real estate market had 266 homes for sale in May 2024, a 14.7% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 11
0.0%
2 109
-10.0%
3 4451
+15.9%
4 105124
+18.1%
5+ 7281
+12.5%

Summary: The Germantown housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 10%, 3 bedroom homes increased by 15.9%, 4 bedroom homes increased by 18.1%, and 5+ bedroom homes increased by 12.5%.

Number of Homes Sold

Apr 2024May 2024CHANGE
4958+18.4%

Asking Price vs. Sold Price

27 Homes Were Sold
Under Asking

9 Homes Were Sold
At Asking

22 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Germantown, you may be able to get a good deal. 46.6% of homes here sold below asking price last month.

Summary: A total of 58 homes were sold or pending in Germantown in May 2024, up by 18.4% month-over-month. Of the 58 sold homes, 47% were sold under asking, 16% were sold at asking, and 38% were sold over asking.

Days on Market for Germantown, TN

We’re sorry, we don't have information for this market at the moment

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 1 Day Ago

Newest Listings in Germantown, TN

Nearby Markets to Germantown, TN

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