Is Columbia, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Columbia is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Columbia has remained a Seller's Market.

Key Takeaway

Columbia is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Columbia, TN

How much do homes in Columbia, TN cost?

Median Sold Price

$361,605

$212/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$14,750(+4.3%)

Key Takeaway

Homes in Columbia have sold for 4.3% more than they did a year ago.

Summary: The median home sold price in Columbia was $361,605 in May 2024, up 4.3% from last year, and the median price per square foot was $212.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $243K$280K
+15.2%
2 $228K$233.6K
+2.5%
3 $338.3K$349.9K
+3.4%
4 $438.8K$460.6K
+5.0%
5+ $490.2K$497.1K
+1.4%

Summary: Columbia housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 15.2%, 2 bedroom homes increased by 2.5%, 3 bedroom homes increased by 3.4%, 4 bedroom homes increased by 5%, and 5+ bedroom homes increased by 1.4%.

Median Sold Price Compared To Nearby Cities

Mount Pleasant
+6.1%
Columbia
+4.3%
Spring Hill
-6.6%

Housing Supply in Columbia, TN

How many homes are available in Columbia, TN?

Number of Homes For Sale

Apr 2024May 2024CHANGE
441485+10.0%

Summary: The Columbia real estate market had 485 homes for sale in May 2024, a 10.0% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 23
+50.0%
2 4345
+4.7%
3 273299
+9.5%
4 7795
+23.4%
5+ 4643
-6.5%

Summary: The Columbia housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 4.7%, 3 bedroom homes increased by 9.5%, 4 bedroom homes increased by 23.4%, and 5+ bedroom homes decreased by 6.5%.

Number of Homes Sold

Apr 2024May 2024CHANGE
10598-6.7%

Asking Price vs. Sold Price

44 Homes Were Sold
Under Asking

34 Homes Were Sold
At Asking

16 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Columbia, you may be able to get a good deal. 46.8% of homes here sold below asking price last month.

Summary: A total of 98 homes were sold or pending in Columbia in May 2024, down by 6.7% month-over-month. Of the 94 sold homes, 47% were sold under asking, 36% were sold at asking, and 17% were sold over asking.

Days on Market for Columbia, TN

How long does it take to sell a home in Columbia, TN?

Average Sale Time

May 2023May 2024CHANGE
27 Days27 Days-0.2%

Summary: Homes in Columbia had an average of 27 days on market in May 2024, down by 0.2% compared to last year.

Breakdown of Home Sale Times

70 Homes Were Sold
Under 30 Days

18 Homes Were Sold
In 30 - 90 Days

8 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Columbia are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 98 homes were sold in Columbia; 71% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 12 Days Ago

Newest Listings in Columbia, TN

Nearby Markets to Columbia, TN

What housing markets are near Columbia, TN?