Is Leoma, 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, Leoma has remained a Seller's Market.
Key Takeaway
Leoma is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Leoma, TN
How much do homes in Leoma, TN cost?
Median Sold Price
$254,500
$160/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Leoma have sold for 5.7% less than they did a year ago.
Summary: The median home sold price in Leoma was $254,500 in May 2024, down 5.7% from last year, and the median price per square foot was $160.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $275K | N/A |
| 2 Bedrooms | $253K | $182.4K | -27.9% |
| 3 Bedrooms | $253.5K | $280K | +10.5% |
| 4 Bedrooms | $447.5K | $352K | -21.3% |
| 5+ Bedrooms | $305K | - | N/A |
Summary: Leoma 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 decreased by 27.9%, 3 bedroom homes increased by 10.5%, 4 bedroom homes decreased by 21.3%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Lawrenceburg | $225.8K | $246.2K | +9.0% |
| Leoma | $269.9K | $254.5K | -5.7% |
Housing Supply in Leoma, TN
How many homes are available in Leoma, TN?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 24 | 23 | -4.2% |
Summary: The Leoma real estate market had 23 homes for sale in May 2024, a 4.2% decrease 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 | 1 | 1 | 0.0% |
| 3 Bedrooms | 23 | 22 | -4.3% |
| 4 Bedrooms | 0 | 0 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Leoma 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 decreased by 4.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 9 | 5 | -44.4% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Leoma, you may be able to get a good deal. 80% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Leoma in May 2024, down by 44.4% month-over-month. Of the 5 sold homes, 80% were sold under asking, 20% were sold at asking, and 0% were sold over asking.
Days on Market for Leoma, TN
How long does it take to sell a home in Leoma, TN?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 59 Days | 76 Days | +29.2% |
Summary: Homes in Leoma had an average of 76 days on market in May 2024, up by 29.2% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Leoma are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 5 homes were sold in Leoma; 40% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 40% 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.