Is Dover, 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, Dover was a Neutral Market.
Key Takeaway
Dover is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Dover, TN
How much do homes in Dover, TN cost?
Median Sold Price
$249,700
$158/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Dover have sold for 9.2% less than they did a year ago.
Summary: The median home sold price in Dover was $249,700 in May 2024, down 9.2% from last year, and the median price per square foot was $158.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $130K | $210K | +61.5% |
| 2 Bedrooms | $175K | $170K | -2.9% |
| 3 Bedrooms | $258.5K | $259K | 0.2% |
| 4 Bedrooms | $369K | $510K | +38.2% |
| 5+ Bedrooms | $380K | $325K | -14.5% |
Summary: Dover housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 61.5%, 2 bedroom homes decreased by 2.9%, 3 bedroom homes increased by 0.2%, 4 bedroom homes increased by 38.2%, and 5+ bedroom homes decreased by 14.5%.
Housing Supply in Dover, TN
How many homes are available in Dover, TN?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 45 | 41 | -8.9% |
Summary: The Dover real estate market had 41 homes for sale in May 2024, a 8.9% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 8 | 7 | -12.5% |
| 3 Bedrooms | 24 | 24 | 0.0% |
| 4 Bedrooms | 10 | 9 | -10.0% |
| 5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The Dover housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 12.5%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 10%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 8 | 9 | +12.5% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Dover, you may be able to get a good deal. 77.8% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in Dover in May 2024, up by 12.5% month-over-month. Of the 9 sold homes, 78% were sold under asking, 22% were sold at asking, and 0% were sold over asking.
Days on Market for Dover, TN
How long does it take to sell a home in Dover, TN?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 24 Days | 46 Days | +91.7% |
Summary: Homes in Dover had an average of 46 days on market in May 2024, up by 91.7% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Dover are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 9 homes were sold in Dover; 56% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 22% 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.