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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Palmer is a buyer's market

Buyer's
Market

Difference Since May 2023

At the same time last year, Palmer was a Seller's Market.

Key Takeaway

Palmer is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Palmer, TN

How much do homes in Palmer, TN cost?

Median Sold Price

$303,750

$225/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$153,850(+102.6%)

Key Takeaway

Homes in Palmer have sold for 102.6% more than they did a year ago.

Summary: The median home sold price in Palmer was $303,750 in May 2024, up 102.6% from last year, and the median price per square foot was $225.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 -$328.5K
N/A
2 $70K$312.5K
+346.4%
3 $220K$225K
+2.3%
4 $125K$379.5K
+203.6%
5+ --
N/A

Summary: Palmer 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 346.4%, 3 bedroom homes increased by 2.3%, 4 bedroom homes increased by 203.6%, and 5+ bedroom homes did not change.

Housing Supply in Palmer, TN

How many homes are available in Palmer, TN?

Number of Homes For Sale

Apr 2024May 2024CHANGE
811+37.5%

Summary: The Palmer real estate market had 11 homes for sale in May 2024, a 37.5% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 01
+100.0%
3 810
+25.0%
4 00
0.0%
5+ 00
0.0%

Summary: The Palmer 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 100%, 3 bedroom homes increased by 25%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Apr 2024May 2024CHANGE
110.0%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Palmer, you could pay more than the asking price. 100% of homes here sold above asking price last month.

Summary: A total of 1 homes were sold or pending in Palmer in May 2024, the same as the previous month. Of the 1 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.

Days on Market for Palmer, TN

We’re sorry, we don't have information for this market at the moment

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

Report Updated 1 Day Ago

Real Estate Agent illustration

Local real estate agents are ready to help you find a home here.

Connect With An Agent
Real Estate Agent illustration

Sell your home with an expert or get the job done on your own.

Sell My Home
Real Estate Agent illustration

Get a customizable mortgage solution based on today's rates.

Get Approved

Newest Listings in Palmer, TN

Nearby Markets to Palmer, TN

What housing markets are near Palmer, TN?

MLS Disclaimers and Copyright

Based on information from Chattanooga MLS / Multiple Listing Service of Chattanooga Inc., and RealTracs Middle Tennessee Regional MLS for the period 06/01/2022 - 06/01/2024

IDX The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Greater Chattanooga Association of Realtors®. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Copyright© 2024 Greater Chattanooga Association of REALTORS®.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 6/2/2024, 5:20:31 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

IDX Listings courtesy of RealTracs Middle Tennessee Regional MLS as distributed by MLS GRID.

All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

IDX© 2024 of the REALTRACS MLS. All rights Reserved.

The data relating to this real estate for sale on this websites comes in part courtesy of the IDX program of the REALTRACS MLS. Real estate listings held by brokerage firms other than this broker are marked with the REALTRACS IDX Logo. REALTRACS and this broker deem all information reliable but not guaranteed, and should be independently verified. REALTRACS and this broker assume no responsibility for typographical errors, misprints or misinformation.

REALTRACS, this broker and their affiliates provide the MLS and all content therein “AS IS” and without any warranty, express or implied. The information included in this listing is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 6/2/2024, 12:48:31 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Popular Cities with Homes for Sale in Tennessee