Is Cumberland Furnace, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Cumberland Furnace is a seller's market

Buyer's
Market

Difference Since November 2021

At the same time last year, Cumberland Furnace was a Buyer's Market.

Key Takeaway

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

How much do homes in Cumberland Furnace, TN cost?

Median Sold Price

$455,000

$177/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2021

+$105,000(+30.0%)

Key Takeaway

Homes in Cumberland Furnace have sold for 30% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSNov 2021Nov 2022%
1 $169K$64K
-62.1%
2 $200K$199K
-0.5%
3 $355.5K$455K
+28.0%
4 $410K$484.9K
+18.3%
5+ $350K$570K
+62.9%

Median Sold Price Compared To Nearby Cities

Cumberland Furnace
+30.0%
Palmyra
+14.6%

How many homes are available in Cumberland Furnace, TN?

Number of Homes For Sale

Oct 2022Nov 2022%
2421-12.5%

Homes For Sale By Bedroom Count

# BEDSOct 2022Nov 2022%
1 22
0.0%
2 43
-25.0%
3 88
0.0%
4 87
-12.5%
5+ 21
-50.0%

Number of Homes Sold

Oct 2022Nov 2022%
34+33.3%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

2 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Cumberland Furnace, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.

Average Sale Time

Nov 2021Nov 2022%
7 Days11 Days+46.7%

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

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

About Cumberland Furnace, TN

Cumberland Furnace, TN has 21 homes for sale to choose from. In November 2022 in Cumberland Furnace, TN there were 12.5% less homes for sale than in October 2022. In November 2022, listings were on the market for 11 days. During the same period, the median list price in this real estate market was $455,000. This housing market listing prices have changed between October 2022 and November 2022: 1 bedroom properties prices decreased by 62.1%, prices of 2 bedrooms properties decreased by 0.5%, prices of 3 bedrooms properties went up by 28%, 4 bedrooms properties became 18.3% more expensive, 5 bedrooms properties prices increased by 62.9%. Volume of homes for sale in this real estate market have seen the following changes: 1 bedroom homes inventory did not change, the quantity of 2 bedrooms homes went down by 25%, the quantity of 3 bedrooms homes have not changed, the quantity of 4 bedrooms homes went down by 12.5%, volume of 5 bedrooms homes went down by 50%. Cumberland Furnace, TN housing market in November 2022 saw over 1 listings sold above listed price, more than 2 sold at listed price and over 1 sold below.

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