The real estate market in Germantown is very diverse and dynamic. The area of Germantown we will be discussing is zip code area 20874.
The market statistics for February 2012 are much improved over February of 2011. And all I can say about that is “thank you”.
Average Sales Price is up 26.15% to $301,417. 196 Pending Sales last month, this is up 47.37%.
|Total Sold Dollar Volume||$10,248,192||-12.47%||+14.45%|
|Median Sold Price||$217,500||+10.97%||+8.75%|
|Avg Sold Price||$301,417||+26.15%||+31.28%|
|Avg Days on Market||80 days||-3.61%||+3.9%|
|Avg Sold to Orig List Ratio||93.05%||+2.38%||+1.78%|
With only a 135 Active Listing, which is down -32.16%, coupled with a drop in Days on Market and low interest rates, Germantown 20874 is gaining momentum and I expect this Spring to continue with increases.
Germantown, Maryland is located approximately 25 miles outside of Washington, D.C. and is the third most populous place in Maryland (after Baltimore and Columbia). It is divided into six town sectors or “villages.”
The center of Germantown is located at the intersection of Route 118 and Middlebrook Road. This area is considered the center of Germantown because the Up County Government Center, the library, the Black Rock Arts Center, multiplex cinema and pedestrian shopping featuring an array of restaurants are all located there.
There are 3 exits to I-270 less than one mile away from the Germantown town center and the MARC train is walking distance. The Germantown Transit Center is also in close proximity and provides Ride On shuttle service to the Shady Grove red line.
Market data and commentary provided by Kathy Fleskes Managing Broker and Serena Toro.