There are currently 521 resale and new homes in Germantown on Trulia, including 9 open houses, as well as 74 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for homes for sale in Germantown TN was $445,965 for the week ending Jul 28, which was unchanged compared to the prior week. Popular neighborhoods in Germantown include Cedar Lake Homeowners Association and Poplar Estates Homeowners Association, with average listing prices of $327,971 and $195,385.
The reason for Germantown's price stability is the continually shrinking area of Shelby County that is considered safe from both a personal, and investment, standpoint. Less than a third of the residential neighborhoods in Shelby County are located in areas where prices are either remaining stable, or rising.
The foreclosure market in GT is relatively small compared to the entire housing inventory, though there are a few good deals out there. I know of one 3000 sf foreclosure home, with a pool, in West Germantown that was under contract for a price in the low $180's. With moderate repairs it would be worth close to it's assessed value of $260K.
If you have any more questions about anything concerning the housing market in the Memphis metro area, you can email me at email@example.com.
Home Buyer's Consultants