Is Cumberland 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, Cumberland County was a Seller's Market.
Housing Prices in Cumberland County, TN
How much do homes in Cumberland County, TN cost?
Median Sold Price
$318,158
$190/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Cumberland County was $318,158 in March 2024, up 6.1% from last year, and the median price per square foot was $190.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $79.7K | $95K | +19.1% |
2 Bedrooms | $250K | $247.9K | -0.8% |
3 Bedrooms | $310K | $341.9K | +10.3% |
4 Bedrooms | $380K | $427.5K | +12.5% |
5+ Bedrooms | $580K | $475K | -18.1% |
Summary: Cumberland County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 19.1%, 2 bedroom homes decreased by 0.8%, 3 bedroom homes increased by 10.3%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes decreased by 18.1%.
Median Sold Price Compared To Nearby Counties
Morgan County | $200K | $240K | +20.0% |
Roane County | $235.2K | $251K | +6.7% |
Cumberland County | $300K | $318.1K | +6.1% |
Fentress County | $239.9K | $246.9K | +2.9% |
White County | $259.4K | $262.4K | +1.2% |
Housing Supply in Cumberland County, TN
How many homes are available in Cumberland County, TN?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
411 | 461 | +12.2% |
Summary: The Cumberland County real estate market had 461 homes for sale in March 2024, a 12.2% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 15 | 17 | +13.3% |
2 Bedrooms | 107 | 129 | +20.6% |
3 Bedrooms | 248 | 264 | +6.5% |
4 Bedrooms | 34 | 43 | +26.5% |
5+ Bedrooms | 7 | 8 | +14.3% |
Summary: The Cumberland County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 13.3%, 2 bedroom homes increased by 20.6%, 3 bedroom homes increased by 6.5%, 4 bedroom homes increased by 26.5%, and 5+ bedroom homes increased by 14.3%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
44 | 57 | +29.5% |
Asking Price vs. Sold Price
40 Homes Were Sold
Under Asking
12 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 57 homes were sold or pending in Cumberland County in March 2024, up by 29.5% month-over-month. Of the 56 sold homes, 71% were sold under asking, 21% were sold at asking, and 7% were sold over asking.
Days on Market for Cumberland County, TN
How long does it take to sell a home in Cumberland County, TN?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
75 Days | 59 Days | -21.5% |
Summary: Homes in Cumberland County had an average of 59 days on market in Mar 2024, down by 21.5% compared to last year.
Breakdown of Home Sale Times
27 Homes Were Sold
Under 30 Days
15 Homes Were Sold
In 30 - 90 Days
14 Homes Were Sold
Over 90 Days
Summary: During March 2024, 57 homes were sold in Cumberland County; 47% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.