Is Cannon County, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Cannon County was a Seller's Market.
Key Takeaway
Cannon County is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Cannon County, TN
How much do homes in Cannon County, TN cost?
Median Sold Price
$308,000
$214/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Cannon County have sold for 8.1% more than they did a year ago.
Summary: The median home sold price in Cannon County was $308,000 in March 2024, up 8.1% from last year, and the median price per square foot was $214.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $155K | N/A |
| 2 Bedrooms | $169K | $255K | +50.9% |
| 3 Bedrooms | $300K | $320K | +6.7% |
| 4 Bedrooms | $406K | $424.9K | +4.7% |
| 5+ Bedrooms | $597K | $232K | -61.1% |
Summary: Cannon County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 50.9%, 3 bedroom homes increased by 6.7%, 4 bedroom homes increased by 4.7%, and 5+ bedroom homes decreased by 61.1%.
Median Sold Price Compared To Nearby Counties
| Cannon County | $285K | $308K | +8.1% |
| DeKalb County | $267.6K | $284.9K | +6.4% |
| Warren County | $249.4K | $260.2K | +4.3% |
| Coffee County | $289K | $296.6K | +2.6% |
| Rutherford County | $409K | $411.9K | +0.7% |
Housing Supply in Cannon County, TN
How many homes are available in Cannon County, TN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 62 | 60 | -3.2% |
Summary: The Cannon County real estate market had 60 homes for sale in March 2024, a 3.2% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 11 | 7 | -36.4% |
| 3 Bedrooms | 36 | 40 | +11.1% |
| 4 Bedrooms | 11 | 8 | -27.3% |
| 5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The Cannon County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 36.4%, 3 bedroom homes increased by 11.1%, 4 bedroom homes decreased by 27.3%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 13 | 10 | -23.1% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cannon County, you may be able to get a good deal. 44.4% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in Cannon County in March 2024, down by 23.1% month-over-month. Of the 9 sold homes, 44% were sold under asking, 33% were sold at asking, and 22% were sold over asking.
Days on Market for Cannon County, TN
How long does it take to sell a home in Cannon County, TN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 52 Days | 43 Days | -17.4% |
Summary: Homes in Cannon County had an average of 43 days on market in Mar 2024, down by 17.4% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Cannon County are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 10 homes were sold in Cannon County; 50% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 30% 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.