$4,988 Closing Credit*
$420,000
1,264 SqFt
3 Beds
•3 Full Baths, 1 Partial
Billy Okoye, Listing Office: Sold 100 Real Estate, Inc.
Is Germantown, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 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, MD
How much do homes in Germantown, MD cost?
Median Sold Price
$419,975
$257/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$24,566(+6.2%)
Key Takeaway
Homes in Germantown have sold for 6.2% more than they did a year ago.
Summary: The median home sold price in Germantown was $419,975 in October 2024, up 6.2% from last year, and the median price per square foot was $257.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $210K | $228K | +8.6% |
| 2 Bedrooms | $295K | $307.5K | +4.2% |
| 3 Bedrooms | $407.3K | $428.7K | +5.3% |
| 4 Bedrooms | $602.5K | $635K | +5.4% |
| 5+ Bedrooms | $750K | $802.5K | +7.0% |
Summary: Germantown housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.6%, 2 bedroom homes increased by 4.2%, 3 bedroom homes increased by 5.3%, 4 bedroom homes increased by 5.4%, and 5+ bedroom homes increased by 7%.
Housing Supply in Germantown, MD
How many homes are available in Germantown, MD?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 224 | 246 | +9.8% |
Summary: The Germantown real estate market had 246 homes for sale in October 2024, a 9.8% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 7 | +75.0% |
| 2 Bedrooms | 65 | 71 | +9.2% |
| 3 Bedrooms | 102 | 109 | +6.9% |
| 4 Bedrooms | 41 | 43 | +4.9% |
| 5+ Bedrooms | 12 | 16 | +33.3% |
Summary: The Germantown housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 75%, 2 bedroom homes increased by 9.2%, 3 bedroom homes increased by 6.9%, 4 bedroom homes increased by 4.9%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 76 | 66 | -13.2% |
Asking Price vs. Sold Price
15 Homes Were Sold
Under Asking
22 Homes Were Sold
At Asking
29 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Germantown, you could pay more than the asking price. 43.9% of homes here sold above asking price last month.
Summary: A total of 66 homes were sold or pending in Germantown in October 2024, down by 13.2% month-over-month. Of the 66 sold homes, 23% were sold under asking, 33% were sold at asking, and 44% were sold over asking.
Days on Market for Germantown, MD
How long does it take to sell a home in Germantown, MD?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 13 Days | 15 Days | +15.7% |
Summary: Homes in Germantown had an average of 15 days on market in Oct 2024, up by 15.7% compared to last year.
Breakdown of Home Sale Times
57 Homes Were Sold
Under 30 Days
9 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 October 2024, 66 homes were sold in Germantown; 86% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
