$2,791 Closing Credit*
$235,000
1,440 SqFt
3 Beds
•1 Full Bath, 1 Partial
Christina R Branch, Listing Office: Velvet Rope Homes
Is Germantown / Chestnut Hill, PA 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 / Chestnut Hill has remained a Seller's Market.
Key Takeaway
Germantown / Chestnut Hill is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Germantown / Chestnut Hill, PA
How much do homes in Germantown / Chestnut Hill, PA cost?
Median Sold Price
$316,820
$201/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$28,040(+9.7%)
Key Takeaway
Homes in Germantown / Chestnut Hill have sold for 9.7% more than they did a year ago.
Summary: The median home sold price in Germantown / Chestnut Hill was $316,820 in October 2024, up 9.7% from last year, and the median price per square foot was $201.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $249.9K | $200K | -20.0% |
| 2 Bedrooms | $217.5K | $261.5K | +20.2% |
| 3 Bedrooms | $248K | $291.2K | +17.4% |
| 4 Bedrooms | $310K | $355K | +14.5% |
| 5+ Bedrooms | $540K | $600K | +11.1% |
Summary: Germantown / Chestnut Hill housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 20%, 2 bedroom homes increased by 20.2%, 3 bedroom homes increased by 17.4%, 4 bedroom homes increased by 14.5%, and 5+ bedroom homes increased by 11.1%.
Median Sold Price Compared To Nearby Neighborhoods
| Germantown / Chestnut Hill | $288.7K | $316.8K | +9.7% |
| Wissahickon | $332.5K | $360K | +8.3% |
| Germantown | $189.8K | $199.6K | +5.1% |
| Roxborough | $355K | $366.2K | +3.2% |
| Mount Airy | $385K | $391.6K | +1.7% |
Housing Supply in Germantown / Chestnut Hill, PA
How many homes are available in Germantown / Chestnut Hill, PA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 387 | 422 | +9.0% |
Summary: The Germantown / Chestnut Hill real estate market had 422 homes for sale in October 2024, a 9.0% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 10 | 11 | +10.0% |
| 2 Bedrooms | 29 | 36 | +24.1% |
| 3 Bedrooms | 185 | 195 | +5.4% |
| 4 Bedrooms | 71 | 80 | +12.7% |
| 5+ Bedrooms | 92 | 100 | +8.7% |
Summary: The Germantown / Chestnut Hill housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 10%, 2 bedroom homes increased by 24.1%, 3 bedroom homes increased by 5.4%, 4 bedroom homes increased by 12.7%, and 5+ bedroom homes increased by 8.7%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 59 | 76 | +28.8% |
Asking Price vs. Sold Price
36 Homes Were Sold
Under Asking
20 Homes Were Sold
At Asking
20 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Germantown / Chestnut Hill, you may be able to get a good deal. 47.4% of homes here sold below asking price last month.
Summary: A total of 76 homes were sold or pending in Germantown / Chestnut Hill in October 2024, up by 28.8% month-over-month. Of the 76 sold homes, 47% were sold under asking, 26% were sold at asking, and 26% were sold over asking.
Days on Market for Germantown / Chestnut Hill, PA
How long does it take to sell a home in Germantown / Chestnut Hill, PA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 56 Days | 51 Days | -10.0% |
Summary: Homes in Germantown / Chestnut Hill had an average of 51 days on market in Oct 2024, down by 10% compared to last year.
Breakdown of Home Sale Times
47 Homes Were Sold
Under 30 Days
17 Homes Were Sold
In 30 - 90 Days
12 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Germantown / Chestnut Hill are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 76 homes were sold in Germantown / Chestnut Hill; 62% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 16% of homes were sold over 90 days.
