Is Townsend, 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, Townsend was a Seller's Market.
Housing Prices in Townsend, TN
How much do homes in Townsend, TN cost?
Median Sold Price
$387,500
$282/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Townsend was $387,500 in May 2024, down 19.3% from last year, and the median price per square foot was $282.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $421K | $278K | -34.0% |
2 Bedrooms | $437.4K | $385K | -12.0% |
3 Bedrooms | $610K | $489.5K | -19.8% |
4 Bedrooms | $607K | $730K | +20.3% |
5+ Bedrooms | $515K | $900K | +74.8% |
Summary: Townsend housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 34%, 2 bedroom homes decreased by 12%, 3 bedroom homes decreased by 19.8%, 4 bedroom homes increased by 20.3%, and 5+ bedroom homes increased by 74.8%.
Housing Supply in Townsend, TN
How many homes are available in Townsend, TN?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
48 | 52 | +8.3% |
Summary: The Townsend real estate market had 52 homes for sale in May 2024, a 8.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 5 | +25.0% |
2 Bedrooms | 27 | 29 | +7.4% |
3 Bedrooms | 11 | 12 | +9.1% |
4 Bedrooms | 4 | 4 | 0.0% |
5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Townsend housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25%, 2 bedroom homes increased by 7.4%, 3 bedroom homes increased by 9.1%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
6 | 6 | 0.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 6 homes were sold or pending in Townsend in May 2024, the same as the previous month. Of the 6 sold homes, 67% were sold under asking, 17% were sold at asking, and 17% were sold over asking.
Days on Market for Townsend, TN
How long does it take to sell a home in Townsend, TN?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
102 Days | 87 Days | -14.6% |
Summary: Homes in Townsend had an average of 87 days on market in May 2024, down by 14.6% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 6 homes were sold in Townsend; 33% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.