Is Benton, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Benton is a seller's market

Buyer's
Market

Difference Since April 2023

Since last year, Benton has remained a Seller's Market.

Key Takeaway

Benton is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Benton, TN

How much do homes in Benton, TN cost?

Median Sold Price

$297,450

$199/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$39,450(+15.3%)

Key Takeaway

Homes in Benton have sold for 15.3% more than they did a year ago.

Summary: The median home sold price in Benton was $297,450 in April 2024, up 15.3% from last year, and the median price per square foot was $199.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 --
N/A
2 $219.5K$207.5K
-5.5%
3 $231.7K$314.6K
+35.8%
4 $364.9K$275K
-24.6%
5+ -$304.9K
N/A

Summary: Benton housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 5.5%, 3 bedroom homes increased by 35.8%, 4 bedroom homes decreased by 24.6%, and 5+ bedroom homes did not change.

Housing Supply in Benton, TN

How many homes are available in Benton, TN?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
1516+6.7%

Summary: The Benton real estate market had 16 homes for sale in April 2024, a 6.7% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 00
0.0%
2 12
+100.0%
3 1010
0.0%
4 44
0.0%
5+ 00
0.0%

Summary: The Benton housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
29+350.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Benton, expect to pay close to the asking price. 66.7% of homes here sold near the asking price last month.

Summary: A total of 9 homes were sold or pending in Benton in April 2024, up by 350.0% month-over-month. Of the 9 sold homes, 33% were sold under asking, 67% were sold at asking, and 0% were sold over asking.

Days on Market for Benton, TN

How long does it take to sell a home in Benton, TN?

Average Sale Time

Apr 2023Apr 2024CHANGE
81 Days3 Days-95.7%

Summary: Homes in Benton had an average of 3 days on market in Apr 2024, down by 95.7% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Benton are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 9 homes were sold in Benton; 22% 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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 16 Days Ago

Newest Listings in Benton, TN

Nearby Markets to Benton, TN