Is Donelson / Hermitage, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Donelson / Hermitage has remained a Seller's Market.
Key Takeaway
Donelson / Hermitage is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Donelson / Hermitage, TN
How much do homes in Donelson / Hermitage, TN cost?
Median Sold Price
$388,584
$232/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
The sold price of homes in Donelson / Hermitage has remained the same since last year.
Summary: The median home sold price in Donelson / Hermitage was $388,584 in March 2024, down 0.4% from last year, and the median price per square foot was $232.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $235K | $226K | -3.8% |
| 2 Bedrooms | $289.9K | $296.9K | +2.4% |
| 3 Bedrooms | $390.5K | $390K | -0.1% |
| 4 Bedrooms | $511.6K | $509.5K | -0.4% |
| 5+ Bedrooms | $574K | $550.9K | -4.0% |
Summary: Donelson / Hermitage housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 3.8%, 2 bedroom homes increased by 2.4%, 3 bedroom homes decreased by 0.1%, 4 bedroom homes decreased by 0.4%, and 5+ bedroom homes decreased by 4%.
Housing Supply in Donelson / Hermitage, TN
How many homes are available in Donelson / Hermitage, TN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 394 | 421 | +6.9% |
Summary: The Donelson / Hermitage real estate market had 421 homes for sale in March 2024, a 6.9% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 67 | 80 | +19.4% |
| 3 Bedrooms | 231 | 233 | +0.9% |
| 4 Bedrooms | 79 | 85 | +7.6% |
| 5+ Bedrooms | 16 | 21 | +31.3% |
Summary: The Donelson / Hermitage housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 19.4%, 3 bedroom homes increased by 0.9%, 4 bedroom homes increased by 7.6%, and 5+ bedroom homes increased by 31.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 88 | 98 | +11.4% |
Asking Price vs. Sold Price
54 Homes Were Sold
Under Asking
27 Homes Were Sold
At Asking
17 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Donelson / Hermitage, you may be able to get a good deal. 55.1% of homes here sold below asking price last month.
Summary: A total of 98 homes were sold or pending in Donelson / Hermitage in March 2024, up by 11.4% month-over-month. Of the 98 sold homes, 55% were sold under asking, 28% were sold at asking, and 17% were sold over asking.
Days on Market for Donelson / Hermitage, TN
How long does it take to sell a home in Donelson / Hermitage, TN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 32 Days | 19 Days | -40.7% |
Summary: Homes in Donelson / Hermitage had an average of 19 days on market in Mar 2024, down by 40.7% compared to last year.
Breakdown of Home Sale Times
80 Homes Were Sold
Under 30 Days
14 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Donelson / Hermitage are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 98 homes were sold in Donelson / Hermitage; 82% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 4% 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.