Is Ripley, 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, Ripley was a Seller's Market.
Key Takeaway
Ripley is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Ripley, TN
How much do homes in Ripley, TN cost?
Median Sold Price
$152,500
-
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Ripley have sold for 13% more than they did a year ago.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $570K | N/A |
| 2 Bedrooms | $119K | $51.4K | -56.8% |
| 3 Bedrooms | $135K | $155K | +14.8% |
| 4 Bedrooms | $145K | $185K | +27.6% |
| 5+ Bedrooms | $279.9K | $280K | 0.0% |
Summary: Ripley 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 56.8%, 3 bedroom homes increased by 14.8%, 4 bedroom homes increased by 27.6%, and 5+ bedroom homes did not change.
Housing Supply in Ripley, TN
How many homes are available in Ripley, TN?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 55 | 59 | +7.3% |
Summary: The Ripley real estate market had 59 homes for sale in May 2024, a 7.3% 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 | 7 | 8 | +14.3% |
| 3 Bedrooms | 30 | 32 | +6.7% |
| 4 Bedrooms | 12 | 13 | +8.3% |
| 5+ Bedrooms | 6 | 6 | 0.0% |
Summary: The Ripley 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 14.3%, 3 bedroom homes increased by 6.7%, 4 bedroom homes increased by 8.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 6 | 8 | +33.3% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Ripley, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in Ripley in May 2024, up by 33.3% month-over-month. Of the 8 sold homes, 75% were sold under asking, 13% were sold at asking, and 13% were sold over asking.
Days on Market for Ripley, TN
We’re sorry, we don't have information for this market at the moment
Listings courtesy of RealTracs Middle Tennessee Regional MLS as distributed by MLS GRID.
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