The Long & Foster Market Minute

Focus On: Germantown Housing Market August 2023

Zip Code(s): 20874 and 20876
Units Sold
Active Inventory
Median Sale Price
Days On Market
Up 3%
Vs. Year Ago
Down -17%
Vs. Year Ago
Up 24%
Vs. Year Ago
No Change
Vs. Year Ago

Units Sold
There was an increase in total units sold in August, with 100 sold this month in Germantown Real Estate. This month's total units sold was higher than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 12 units or 17%. The total number of active inventory this August was 60 compared to 72 in August 2022. This month's total of 60 is lower than the previous month's total supply of available inventory of 75, a decrease of 20%.

Median Sale Price
Last August, the median sale price for Germantown Homes was $360,000. This August, the median sale price was $446,250, an increase of 24% or $86,250 compared to last year. The current median sold price is 10% higher than in July.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.

New Listings
Current Contracts
Sold Vs. List Price
Months of Supply
Down -24%
Vs. Year Ago
Down -16%
Vs. Year Ago
Up 1.9%
Vs. Year Ago
Down -19%
Vs. Year Ago

Months of Supply
In August, there was 0.6 months of supply available in Germantown, compared to 0.7 in August 2022. That is a decrease of 19% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

New Listings & Current Contracts
This month there were 78 homes newly listed for sale in Germantown compared to 103 in August 2022, a decrease of 24%. There were 84 current contracts pending sale this August compared to 100 a year ago. The number of current contracts is 16% lower than last August.

Sale Price to List Price Ratio
In August, the average sale price in Germantown was 102.4% of the average list price, which is 1.9% higher than at this time last year.

Days on Market
This month, the average number of days on market was 12, which is similar compared to a year ago.

The Long & Foster Market Minute Germantown are defined as properties listed in zip code/s 20874 and 20876.
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by BRIGHTMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of BRIGHTMLS or Long & Foster Real Estate, Inc.