Is Parsons, 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, Parsons has remained a Seller's Market.
Key Takeaway
Parsons is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Parsons, TN
How much do homes in Parsons, TN cost?
Median Sold Price
$201,500
$122/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Parsons have sold for 13.6% more than they did a year ago.
Summary: The median home sold price in Parsons was $201,500 in May 2024, up 13.6% from last year, and the median price per square foot was $122.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $120K | $150K | +25.0% |
| 3 Bedrooms | $175K | $200K | +14.3% |
| 4 Bedrooms | $187.5K | $540K | +188.0% |
| 5+ Bedrooms | $134K | $389.5K | +190.7% |
Summary: Parsons 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 25%, 3 bedroom homes increased by 14.3%, 4 bedroom homes increased by 188%, and 5+ bedroom homes increased by 190.7%.
Housing Supply in Parsons, TN
How many homes are available in Parsons, TN?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 16 | 17 | +6.3% |
Summary: The Parsons real estate market had 17 homes for sale in May 2024, a 6.3% increase 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 | 4 | 4 | 0.0% |
| 3 Bedrooms | 9 | 10 | +11.1% |
| 4 Bedrooms | 2 | 2 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Parsons 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 increased by 11.1%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 3 | 4 | +33.3% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Parsons, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Parsons in May 2024, up by 33.3% month-over-month. Of the 4 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Parsons, TN
How long does it take to sell a home in Parsons, TN?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 99 Days | 97 Days | -2.0% |
Summary: Homes in Parsons had an average of 97 days on market in May 2024, down by 2% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Parsons are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During May 2024, 4 homes were sold in Parsons; 25% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 50% 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.