Is Manchester, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Manchester has remained a Seller's Market.
Housing Prices in Manchester, TN
How much do homes in Manchester, TN cost?
Median Sold Price
$309,933
$186/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Manchester was $309,933 in April 2024, up 4.7% from last year, and the median price per square foot was $186.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $257K | - | N/A |
2 Bedrooms | $155K | $215K | +38.7% |
3 Bedrooms | $283.2K | $308K | +8.7% |
4 Bedrooms | $435K | $390K | -10.3% |
5+ Bedrooms | $570K | $355K | -37.7% |
Summary: Manchester housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 38.7%, 3 bedroom homes increased by 8.7%, 4 bedroom homes decreased by 10.3%, and 5+ bedroom homes decreased by 37.7%.
Median Sold Price Compared To Nearby Cities
Manchester | $296.1K | $309.9K | +4.7% |
Hillsboro | $330K | $266.9K | -19.1% |
Housing Supply in Manchester, TN
How many homes are available in Manchester, TN?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
118 | 115 | -2.5% |
Summary: The Manchester real estate market had 115 homes for sale in April 2024, a 2.5% decrease compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 7 | 9 | +28.6% |
3 Bedrooms | 87 | 77 | -11.5% |
4 Bedrooms | 21 | 26 | +23.8% |
5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Manchester housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 28.6%, 3 bedroom homes decreased by 11.5%, 4 bedroom homes increased by 23.8%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
28 | 24 | -14.3% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
12 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 24 homes were sold or pending in Manchester in April 2024, down by 14.3% month-over-month. Of the 24 sold homes, 33% were sold under asking, 50% were sold at asking, and 17% were sold over asking.
Days on Market for Manchester, TN
How long does it take to sell a home in Manchester, TN?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
76 Days | 55 Days | -27.2% |
Summary: Homes in Manchester had an average of 55 days on market in Apr 2024, down by 27.2% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Summary: During April 2024, 24 homes were sold in Manchester; 58% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.