Is Sparta, 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, Sparta has remained a Seller's Market.
Housing Prices in Sparta, TN
How much do homes in Sparta, TN cost?
Median Sold Price
$275,000
$179/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Sparta was $275,000 in May 2024, up 8.9% from last year, and the median price per square foot was $179.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $333.5K | $165K | -50.5% |
2 Bedrooms | $179K | $194.9K | +8.9% |
3 Bedrooms | $252.5K | $275K | +8.9% |
4 Bedrooms | $329K | $370K | +12.5% |
5+ Bedrooms | $675K | $409.9K | -39.3% |
Summary: Sparta housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 50.5%, 2 bedroom homes increased by 8.9%, 3 bedroom homes increased by 8.9%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes decreased by 39.3%.
Housing Supply in Sparta, TN
How many homes are available in Sparta, TN?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
167 | 178 | +6.6% |
Summary: The Sparta real estate market had 178 homes for sale in May 2024, a 6.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 3 | -25.0% |
2 Bedrooms | 38 | 44 | +15.8% |
3 Bedrooms | 83 | 87 | +4.8% |
4 Bedrooms | 30 | 31 | +3.3% |
5+ Bedrooms | 12 | 13 | +8.3% |
Summary: The Sparta housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes increased by 15.8%, 3 bedroom homes increased by 4.8%, 4 bedroom homes increased by 3.3%, and 5+ bedroom homes increased by 8.3%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
16 | 30 | +87.5% |
Asking Price vs. Sold Price
18 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 30 homes were sold or pending in Sparta in May 2024, up by 87.5% month-over-month. Of the 30 sold homes, 60% were sold under asking, 23% were sold at asking, and 17% were sold over asking.
Days on Market for Sparta, TN
How long does it take to sell a home in Sparta, TN?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
26 Days | 69 Days | +164.4% |
Summary: Homes in Sparta had an average of 69 days on market in May 2024, up by 164.4% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Summary: During May 2024, 30 homes were sold in Sparta; 43% of homes were sold within 30 days, 37% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.