The Long & Foster Market Minute

FOCUS ON: GERMANTOWN HOUSING MARKET MAY 2024

Zip Code(s): 20874 and 20876
Units Sold
70
Active Inventory
69
Median Sale Price
$422,500
Days On Market
14
Down -4%
Vs. Year Ago
Up 30%
Vs. Year Ago
Up 1%
Vs. Year Ago
Up 27%
Vs. Year Ago

Units Sold
There was an increase in total units sold in May, with 70 sold this month in Germantown Real Estate versus 64 last month, an increase of 9%. This month's total units sold was lower than at this time last year, a decrease of 4% versus May 2023.

Active Inventory
Versus last year, the total number of homes available this month is higher by 16 units or 30%. The total number of active inventory this May was 69 compared to 53 in May 2023. This month's total of 69 is lower than the previous month's total supply of available inventory of 80, a decrease of 14%.

Median Sale Price
Last May, the median sale price for Germantown Homes was $420,000. This May, the median sale price was approximately the same at $422,500. The current median sold price is 1% higher than in May 2023.

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


New Listings
90
Current Contracts
90
Sold Vs. List Price
101.7%
Months of Supply
1.0
Up 10%
Vs. Year Ago
Up 17%
Vs. Year Ago
Down -1%
Vs. Year Ago
Up 36%
Vs. Year Ago

Months of Supply
In May, there was 1.0 months of supply available in Germantown, compared to 0.7 in May 2023. That is an increase of 36% 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 90 homes newly listed for sale in Germantown compared to 82 in May 2023, an increase of 10%. There were 90 current contracts pending sale this May compared to 77 a year ago. The number of current contracts is 17% higher than last May.

Sale Price to List Price Ratio
In May, the average sale price in Germantown was 101.7% of the average list price, which is 1.1% lower than at this time last year.

Days on Market
This month, the average number of days on market was 14, higher than the average last year, which was 11, an increase of 27%.

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.