Germantown, MD Market Report – 4/22/10

22 Apr
April 22, 2010

Germantown is located in the northern part of Montgomery County and contains a wide range of housing styles and price. It is easily accessed from either Route 355 or Interstate 270. In addition to numerous roads and I-270, the MARC Train has a station in Germantown and bus service feeds into the METRO system in at Shady Grove.

The following conditions reflect the market in Germantown, Maryland during March:

  • Homes for sale: 451 (up from snowy February’s 410)
  • Homes sold: 88 (up from 65 last month and up from 84 one year ago)
  • Average sales price: $228,124 (down from $211,975 last month and down from $248,415 one year ago)
  • Average days on market: 63 (similar to the last few months, but down from 112 days a year ago)

After showing stabilization, the statistics, being heavily influenced by the large number of lower priced sales, is showing a lower average price. This is not concerning to me because the reduced number of days it takes to sell a house tells me the demand is strong. If demand is strong a balanced market is either here or nearly in hand. First-time buyers and investors still make up the majority of the buyers in the Germantown market over the past few months.

One of the great features of Germantown is South Germantown Recreational Park is a 736-acre park that includes hiking trails, picnic facilities, an indoor sports complex, 22 soccer fields with a lighted stadium, baseball and softball fields, a playground, archery range, golf driving range, two miniature golf courses, a splash playground, model boating lake, a tot lot, and an indoor aquatic center.

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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