Is Cowan, 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, Cowan was a Buyer's Market.
Key Takeaway
Cowan is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Cowan, TN
How much do homes in Cowan, TN cost?
Median Sold Price
$197,000
$152/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Cowan have sold for 8.5% more than they did a year ago.
Summary: The median home sold price in Cowan was $197,000 in May 2024, up 8.5% from last year, and the median price per square foot was $152.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $62K | - | N/A |
| 2 Bedrooms | $145K | $146.4K | +1.0% |
| 3 Bedrooms | $195K | $207.2K | +6.3% |
| 4 Bedrooms | $319.5K | $240K | -24.9% |
| 5+ Bedrooms | $253.9K | - | N/A |
Summary: Cowan 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 1%, 3 bedroom homes increased by 6.3%, 4 bedroom homes decreased by 24.9%, and 5+ bedroom homes did not change.
Housing Supply in Cowan, TN
How many homes are available in Cowan, TN?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 36 | 35 | -2.8% |
Summary: The Cowan real estate market had 35 homes for sale in May 2024, a 2.8% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 29 | 29 | 0.0% |
| 4 Bedrooms | 4 | 3 | -25.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Cowan 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 remained the same, 4 bedroom homes decreased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 5 | 6 | +20.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cowan, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 6 homes were sold or pending in Cowan in May 2024, up by 20.0% month-over-month. Of the 6 sold homes, 0% were sold under asking, 50% were sold at asking, and 50% were sold over asking.
Days on Market for Cowan, TN
How long does it take to sell a home in Cowan, TN?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 3 Days | 119 Days | +3866.7% |
Summary: Homes in Cowan had an average of 119 days on market in May 2024, up by 3866.7% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Cowan are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During May 2024, 6 homes were sold in Cowan; 33% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 67% 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.