$4,630 Closing Credit*
$389,900
660 SqFt
1 Bed
•1 Full Bath
Robert Drimmer, Listing Office: Compass Tennessee, LLC
Is Germantown, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Germantown was a Seller's Market.
Key Takeaway
Germantown is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Germantown, TN
How much do homes in Germantown, TN cost?
Median Sold Price
$655,000
$525/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$130,000(-16.6%)
Key Takeaway
Homes in Germantown have sold for 16.6% less than they did a year ago.
Summary: The median home sold price in Germantown was $655,000 in October 2024, down 16.6% from last year, and the median price per square foot was $525.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $499.5K | $433K | -13.3% |
| 2 Bedrooms | $750K | $552.5K | -26.3% |
| 3 Bedrooms | $927.5K | $1.0M | +9.5% |
| 4 Bedrooms | $798.7K | $1.4M | +78.4% |
| 5+ Bedrooms | - | $1.9M | N/A |
Summary: Germantown housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 13.3%, 2 bedroom homes decreased by 26.3%, 3 bedroom homes increased by 9.5%, 4 bedroom homes increased by 78.4%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| North Nashville | $566.6K | $552.5K | -2.5% |
| Germantown | $785K | $655K | -16.6% |
Housing Supply in Germantown, TN
How many homes are available in Germantown, TN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 23 | 25 | +8.7% |
Summary: The Germantown real estate market had 25 homes for sale in October 2024, a 8.7% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 6 | 7 | +16.7% |
| 2 Bedrooms | 6 | 7 | +16.7% |
| 3 Bedrooms | 8 | 8 | 0.0% |
| 4 Bedrooms | 3 | 2 | -33.3% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The Germantown housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 16.7%, 2 bedroom homes increased by 16.7%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 2 | 4 | +100.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Germantown, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Germantown in October 2024, up by 100.0% month-over-month. Of the 4 sold homes, 75% were sold under asking, 0% were sold at asking, and 25% were sold over asking.
Days on Market for Germantown, TN
How long does it take to sell a home in Germantown, TN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 24 Days | 55 Days | +124.5% |
Summary: Homes in Germantown had an average of 55 days on market in Oct 2024, up by 124.5% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Germantown has remained consistent over time.
Summary: During October 2024, 4 homes were sold in Germantown; 25% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
Listings courtesy of RealTracs Middle Tennessee Regional MLS as distributed by MLS GRID.
© 2024 of the REALTRACS MLS. All rights Reserved.