Is New Market, 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, New Market has remained a Seller's Market.
Housing Prices in New Market, TN
How much do homes in New Market, TN cost?
Median Sold Price
$368,000
$195/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in New Market was $368,000 in May 2024, up 19.1% from last year, and the median price per square foot was $195.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $235K | $125K | -46.8% |
3 Bedrooms | $315K | $385.5K | +22.4% |
4 Bedrooms | $390K | $485K | +24.4% |
5+ Bedrooms | $835K | $915K | +9.6% |
Summary: New Market 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 46.8%, 3 bedroom homes increased by 22.4%, 4 bedroom homes increased by 24.4%, and 5+ bedroom homes increased by 9.6%.
Median Sold Price Compared To Nearby Cities
New Market | $309K | $368K | +19.1% |
Jefferson City | $279.9K | $300K | +7.2% |
Housing Supply in New Market, TN
How many homes are available in New Market, TN?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
20 | 22 | +10.0% |
Summary: The New Market real estate market had 22 homes for sale in May 2024, a 10.0% increase 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 | 2 | 2 | 0.0% |
3 Bedrooms | 14 | 17 | +21.4% |
4 Bedrooms | 2 | 1 | -50.0% |
5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The New Market 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 remained the same, 3 bedroom homes increased by 21.4%, 4 bedroom homes decreased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
3 | 5 | +66.7% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 5 homes were sold or pending in New Market in May 2024, up by 66.7% month-over-month. Of the 5 sold homes, 40% were sold under asking, 40% were sold at asking, and 20% were sold over asking.
Days on Market for New Market, TN
How long does it take to sell a home in New Market, TN?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
34 Days | 82 Days | +138.3% |
Summary: Homes in New Market had an average of 82 days on market in May 2024, up by 138.3% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 5 homes were sold in New Market; 40% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 40% of homes were sold over 90 days.