Is Cannon County, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Cannon County has remained a Seller's Market.
Key Takeaway
Cannon County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Cannon County, TN
How much do homes in Cannon County, TN cost?
Median Sold Price
$315,000
$216/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Cannon County have sold for 7.7% more than they did a year ago.
Summary: The median home sold price in Cannon County was $315,000 in May 2024, up 7.7% from last year, and the median price per square foot was $216.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $158.5K | N/A |
| 2 Bedrooms | $188.4K | $232.9K | +23.6% |
| 3 Bedrooms | $300K | $339.9K | +13.3% |
| 4 Bedrooms | $405.5K | $439.9K | +8.5% |
| 5+ Bedrooms | $648.5K | $341K | -47.4% |
Summary: Cannon County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 23.6%, 3 bedroom homes increased by 13.3%, 4 bedroom homes increased by 8.5%, and 5+ bedroom homes decreased by 47.4%.
Median Sold Price Compared To Nearby Counties
| Cannon County | $292.5K | $315K | +7.7% |
| DeKalb County | $270K | $290K | +7.4% |
| Coffee County | $285.7K | $300K | +5.0% |
| Warren County | $249.9K | $260K | +4.0% |
| Rutherford County | $405.1K | $416.7K | +2.9% |
Housing Supply in Cannon County, TN
How many homes are available in Cannon County, TN?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 72 | 72 | 0.0% |
Summary: The Cannon County real estate market had 72 homes for sale in May 2024, the same as April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 5 | 5 | 0.0% |
| 3 Bedrooms | 48 | 53 | +10.4% |
| 4 Bedrooms | 14 | 10 | -28.6% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The Cannon County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 10.4%, 4 bedroom homes decreased by 28.6%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 16 | 17 | +6.3% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cannon County, you may be able to get a good deal. 46.7% of homes here sold below asking price last month.
Summary: A total of 17 homes were sold or pending in Cannon County in May 2024, up by 6.3% month-over-month. Of the 15 sold homes, 47% were sold under asking, 33% were sold at asking, and 20% were sold over asking.
Days on Market for Cannon County, TN
How long does it take to sell a home in Cannon County, TN?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 28 Days | 25 Days | -10.9% |
Summary: Homes in Cannon County had an average of 25 days on market in May 2024, down by 10.9% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Cannon County are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 17 homes were sold in Cannon County; 76% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
Listings courtesy of RealTracs Middle Tennessee Regional MLS as distributed by MLS GRID.
© 2024 of the REALTRACS MLS. All rights Reserved.