Is Tullahoma, 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, Tullahoma has remained a Seller's Market.
Key Takeaway
Tullahoma is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Tullahoma, TN
How much do homes in Tullahoma, TN cost?
Median Sold Price
$285,000
$181/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Tullahoma have sold for 9.6% more than they did a year ago.
Summary: The median home sold price in Tullahoma was $285,000 in May 2024, up 9.6% from last year, and the median price per square foot was $181.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $501.3K | - | N/A |
| 2 Bedrooms | $144.9K | $197.5K | +36.3% |
| 3 Bedrooms | $259.9K | $272.5K | +4.8% |
| 4 Bedrooms | $370K | $392K | +5.9% |
| 5+ Bedrooms | $513.2K | $545K | +6.2% |
Summary: Tullahoma 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 36.3%, 3 bedroom homes increased by 4.8%, 4 bedroom homes increased by 5.9%, and 5+ bedroom homes increased by 6.2%.
Median Sold Price Compared To Nearby Cities
| Lynchburg | $357.5K | $427.5K | +19.6% |
| Tullahoma | $260K | $285K | +9.6% |
| Manchester | $290K | $315.7K | +8.9% |
Housing Supply in Tullahoma, TN
How many homes are available in Tullahoma, TN?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 165 | 167 | +1.2% |
Summary: The Tullahoma real estate market had 167 homes for sale in May 2024, a 1.2% 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 | 21 | 24 | +14.3% |
| 3 Bedrooms | 88 | 88 | 0.0% |
| 4 Bedrooms | 46 | 41 | -10.9% |
| 5+ Bedrooms | 10 | 14 | +40.0% |
Summary: The Tullahoma 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 remained the same, 4 bedroom homes decreased by 10.9%, and 5+ bedroom homes increased by 40%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 37 | 32 | -13.5% |
Asking Price vs. Sold Price
18 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Tullahoma, you may be able to get a good deal. 56.3% of homes here sold below asking price last month.
Summary: A total of 32 homes were sold or pending in Tullahoma in May 2024, down by 13.5% month-over-month. Of the 32 sold homes, 56% were sold under asking, 31% were sold at asking, and 13% were sold over asking.
Days on Market for Tullahoma, TN
How long does it take to sell a home in Tullahoma, TN?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 60 Days | 53 Days | -11.9% |
Summary: Homes in Tullahoma had an average of 53 days on market in May 2024, down by 11.9% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Tullahoma are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 32 homes were sold in Tullahoma; 44% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 19% 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.