Is Selmer, 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, Selmer was a Seller's Market.
Key Takeaway
Selmer is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Selmer, TN
How much do homes in Selmer, TN cost?
Median Sold Price
$165,700
$101/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Selmer have sold for 18.4% more than they did a year ago.
Summary: The median home sold price in Selmer was $165,700 in May 2024, up 18.4% from last year, and the median price per square foot was $101.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $50K | N/A |
| 2 Bedrooms | $76.5K | $131K | +71.2% |
| 3 Bedrooms | $176.2K | $175K | -0.7% |
| 4 Bedrooms | $250K | $250K | 0.0% |
| 5+ Bedrooms | $269K | $235K | -12.6% |
Summary: Selmer 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 71.2%, 3 bedroom homes decreased by 0.7%, 4 bedroom homes did not change, and 5+ bedroom homes decreased by 12.6%.
Housing Supply in Selmer, TN
How many homes are available in Selmer, TN?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 42 | 41 | -2.4% |
Summary: The Selmer real estate market had 41 homes for sale in May 2024, a 2.4% 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 | 8 | 7 | -12.5% |
| 3 Bedrooms | 22 | 21 | -4.5% |
| 4 Bedrooms | 10 | 10 | 0.0% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Selmer 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 decreased by 12.5%, 3 bedroom homes decreased by 4.5%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 9 | 5 | -44.4% |
Asking Price vs. Sold Price
5 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 Selmer, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Selmer in May 2024, down by 44.4% month-over-month. Of the 5 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Selmer, TN
We’re sorry, we don't have information for this market at the moment
Listings courtesy of RealTracs Middle Tennessee Regional MLS as distributed by MLS GRID.
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