Germantown, MD Market Report – 5/21/10

21 May
May 21, 2010

Germantown is located in the northern part of Montgomery County between Route 355 and I-270.  It is an affordable city which was designed around two man-made lakes and contains a wide range of housing

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

  • Homes for sale: 527 (up from 451 last month and up from snowy February’s 410. It was 517 one year ago)
  • Homes sold: 107 (up from 88 last month and up from734 one year ago)
  • Average sales price: $255,635 (up from $228,124 last month and up from $246,596 one year ago)
  • Average days on market: 54 (down from 63 last month and down from 70 days a year ago)

After a couple of years of First-Time Buyers and Investors being the majority of the market, we are now seeing a rapid increase in the number of existing homeowners entering the market and buying a bigger house. This is firming up the prices in the higher price range and thus pulling up the average and median prices too in Germantown

The Germantown campus of Montgomery College is in the heart of Germantown and is surrounded by shopping centers, restaurants, housing communities, parks and recreational facilities.  Although there are no shopping malls in Germantown, it does not lack for stores both large and small.

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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