The Long & Foster Market Minute

Focus On: Germantown Housing Market March 2021

Zip Code(s): 20874 and 20876
Units Sold
107
Active Inventory
36
Median Sale Price
$340,000
Days On Market
15
Up 5%
Vs. Year Ago
Down -75%
Vs. Year Ago
Up 10%
Vs. Year Ago
Down -56%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in March, with 107 sold this month in Germantown Real Estate versus 113 last month, a decrease of 5%. This month's total units sold was higher than at this time last year, an increase of 5% versus March 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 109 units or 75%. The total number of active inventory this March was 36 compared to 145 in March 2020. This month's total of 36 is lower than the previous month's total supply of available inventory of 44, a decrease of 18%.

Median Sale Price
Last March, the median sale price for Germantown Homes was $310,500. This March, the median sale price was $340,000, an increase of 10% or $29,500 compared to last year. The current median sold price is 1% lower than in February.

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


New Listings
134
Current Contracts
138
Sold Vs. List Price
102.1%
Months of Supply
0.3
Down -6%
Vs. Year Ago
Up 44%
Vs. Year Ago
Up 2.6%
Vs. Year Ago
Down -76%
Vs. Year Ago

Months of Supply
In March, there was 0.3 months of supply available in Germantown, compared to 1.4 in March 2020. That is a decrease of 76% 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 134 homes newly listed for sale in Germantown compared to 143 in March 2020, a decrease of 6%. There were 138 current contracts pending sale this March compared to 96 a year ago. The number of current contracts is 44% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Germantown was 102.1% of the average list price, which is 2.6% higher than at this time last year.

Days on Market
This month, the average number of days on market was 15, lower than the average last year, which was 34, a decrease of 56%.

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.