Is Summertown, 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, Summertown has remained a Buyer's Market.
Housing Prices in Summertown, TN
How much do homes in Summertown, TN cost?
Median Sold Price
$347,500
$203/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Summertown was $347,500 in May 2024, up 12.8% from last year, and the median price per square foot was $203.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $248.9K | - | N/A |
2 Bedrooms | $175K | $261.5K | +49.4% |
3 Bedrooms | $327K | $369K | +12.8% |
4 Bedrooms | $359.5K | $405K | +12.7% |
5+ Bedrooms | $445K | - | N/A |
Summary: Summertown 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 49.4%, 3 bedroom homes increased by 12.8%, 4 bedroom homes increased by 12.7%, and 5+ bedroom homes did not change.
Housing Supply in Summertown, TN
How many homes are available in Summertown, TN?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
35 | 44 | +25.7% |
Summary: The Summertown real estate market had 44 homes for sale in May 2024, a 25.7% 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 | 4 | 5 | +25.0% |
3 Bedrooms | 26 | 33 | +26.9% |
4 Bedrooms | 4 | 5 | +25.0% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Summertown 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 increased by 26.9%, 4 bedroom homes increased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
3 | 4 | +33.3% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 4 homes were sold or pending in Summertown in May 2024, up by 33.3% month-over-month. Of the 4 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.
Days on Market for Summertown, TN
How long does it take to sell a home in Summertown, TN?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
120 Days | 13 Days | -88.8% |
Summary: Homes in Summertown had an average of 13 days on market in May 2024, down by 88.8% compared to last year.
Breakdown of Home Sale Times
4 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, 4 homes were sold in Summertown; 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.