In the second and third quarters of the year the Germantown area has seen what I believe to be the begining of a turnaround for the housing market, the avg $ per square foot sold in the germantown market went up for the third straight quarter, and the number of homes sold was the same as last year, and didn't experience the dip in volume that many other suburbs in the Memphis metro area did. The average home price for Germantown also rose to it's highest level in 5 quarters, and came in at $381,200.
Previous quarters
In the first four months of the yr, the city of Germantown has once again seen a slowing of the market and a decrease in average home price by about 11% from the same period a year ago. The avg $ per sq foot fell again but by a slightly less 6.2% year over year. The amount of homes sold was down over 26% from this time last year, but the main reason for that is the dramatically decreased inventory of homes for sale.
The number of Foreclosures happening in Germantown is down from last year, and home owners have decided to put off moving until the market for sellers improves. These factors will lead to stabilization of prices in the coming months and the Stimulus package should add to growing demand as consumer confidence returns.
If you're thinking of buying a home in Germantown act quick as some of the deals available now may not be available in a few short months.
ZIP Codes: 38139, &, 38138 Approximate Location Boundaries: Memphis to the west and south, the Cordova on the north, collierville to the east
Location Characteristics: Germantown is one of the most sought after areas to live in around the Greater Memphis Metropolitan Area. Home prices in the neighborhoods and subdivisions that are located inside the Germantown city limits, have consistently outpaced prices in other areas of town.
If you have Children, you'll be pleased to know that the schools serving the students of Germantown have some of the highest T-cap scores in all of Shelby county. There are two Main high schools, Houston High serving the north and east areas, and Germantown High which serves the southern and western areas of town.
The city of Germantown was recently surrounded by reserve area called for annexation by other cities that make up the Memphis Metropolitan Area. This should serve to support prices in the future as this should make land available for development sell at a premium to the areas not inside the Germantown city limits.
If a more leisurely lifestyle is what you are looking for there are numerous country clubs, golf courses, city parks, and recreational areas inside the city with tall trees, green grass, and flowers which can provide enjoyment for all and also help to keep the area air clean, cool, and fresh along with setting a relaxing backdrop for the citizens. The City is also known for it's great recreation center, located on Exeter Rd, just west of Germantown Pkwy, which provides discount memberships to those that live in Germantown. The city of Germantown can also provide you with plenty of shopping, and many of the areas finest restaurants.
Call Jaime at (901) 490-3542 to find out more information about the benefits of living in The City of Germantown.
About Jamie Osborn:
Hello If your equity matters than give me a call at (901) 490-3542 I know the area better than anybody, I should, I've lived here all my life. I graduated from the University of Memphis where I Majored in finance and held a double minor in accounting and marketing. I am able to use this knowledge advantageously everyday because I understand that your home is a large investment and there are many things to look at when choosing location, size, and characteristics. I make sure that your investment is well placed and well protected. I also understand the tax implications that come with purchasing a home and also in purchasing an investment property. My background in marketing helps me to better understand how to use the latest technology and trends to sell your home in the smallest amount of time with the largest amount of equity going back to you. I also hold an E-PRO certification stating that I use technology to my full advantage when selling or buying a home.
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
