Is Jefferson City, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Jefferson City was a Seller's Market.
Housing Prices in Jefferson City, TN
How much do homes in Jefferson City, TN cost?
Median Sold Price
$300,000
$163/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Jefferson City was $300,000 in May 2024, up 7.2% from last year, and the median price per square foot was $163.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $25K | - | N/A |
2 Bedrooms | $187K | $180.9K | -3.2% |
3 Bedrooms | $263.1K | $325K | +23.5% |
4 Bedrooms | $310K | $299.9K | -3.3% |
5+ Bedrooms | $335K | $359.9K | +7.4% |
Summary: Jefferson City 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 decreased by 3.2%, 3 bedroom homes increased by 23.5%, 4 bedroom homes decreased by 3.3%, and 5+ bedroom homes increased by 7.4%.
Median Sold Price Compared To Nearby Cities
New Market | $309K | $368K | +19.1% |
Dandridge | $324.7K | $355.3K | +9.4% |
Jefferson City | $279.9K | $300K | +7.2% |
Talbott | $282.4K | $293.1K | +3.8% |
Morristown | $268.6K | $270K | 0.5% |
Housing Supply in Jefferson City, TN
How many homes are available in Jefferson City, TN?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
55 | 52 | -5.5% |
Summary: The Jefferson City real estate market had 52 homes for sale in May 2024, a 5.5% decrease compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 4 | 5 | +25.0% |
3 Bedrooms | 40 | 36 | -10.0% |
4 Bedrooms | 4 | 5 | +25.0% |
5+ Bedrooms | 7 | 6 | -14.3% |
Summary: The Jefferson City housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 25%, 3 bedroom homes decreased by 10%, 4 bedroom homes increased by 25%, and 5+ bedroom homes decreased by 14.3%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
16 | 6 | -62.5% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 6 homes were sold or pending in Jefferson City in May 2024, down by 62.5% month-over-month. Of the 6 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.
Days on Market for Jefferson City, TN
How long does it take to sell a home in Jefferson City, TN?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
36 Days | 8 Days | -76.4% |
Summary: Homes in Jefferson City had an average of 8 days on market in May 2024, down by 76.4% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 6 homes were sold in Jefferson City; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.