Germantown, MD Market Report – 10/12/09

12 Oct
October 12, 2009

The figures below reflect the market in Germantown, Maryland:

  • Homes for sale: 438
  • Closed sales: 98
  • Average sale price: $238,361
  • Average days on market: 45

With the stabilizing real estate market, the inventory of houses for sale continues to drop each month. One year ago there were 707 houses for sale, meaning a one-year reduction in inventory of 38%. Also, houses in Germantown are selling at almost twice the rate of last year, 45 days this year versus 83 days last year. Affordability keeps getting better with today’s mortgage rates hovering around 5% for a 30 year fixed-rate mortgage.

Germantown has a wide range of house sizes and styles, townhouses and condos. There is something for everyone. Located in the northern part of Montgomery County adjacent to I-270 and a short drive to the Shady Grove Metro Station, Germantown is very popular with first time buyers and repeat buyers. Once they move in, many homeowners in Germantown never leave—they just trade up or down within the Germantown community.

Market data and  commentary provided by David Hess, Executive Vice President and Managing Broker.

Search for homes in Germantown, and all of the DC Metro: www.averyhess.com

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