Is Germantown, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Germantown has remained a Seller's Market.
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
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
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $206K | - | N/A |
2 Bedrooms | $269K | $235K | -12.6% |
3 Bedrooms | $365K | $375K | +2.7% |
4 Bedrooms | $463K | $495K | +6.9% |
5+ Bedrooms | $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 | $472.5K | $489.3K | +3.6% |
Collierville | $541K | $534.8K | -1.2% |
Cordova | $308.8K | $300K | -2.9% |
Memphis | $207.7K | $192.8K | -7.1% |
Housing Supply in Germantown, TN
How many homes are available in Germantown, TN?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
232 | 266 | +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
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 10 | 9 | -10.0% |
3 Bedrooms | 44 | 51 | +15.9% |
4 Bedrooms | 105 | 124 | +18.1% |
5+ Bedrooms | 72 | 81 | +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 2024 | May 2024 | CHANGE |
---|---|---|
49 | 58 | +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
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