Is Farmington, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Farmington was a Seller's Market.
Housing Prices in Farmington, TN
How much do homes in Farmington, TN cost?
Median Sold Price
$477,499
$172/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Farmington was $477,499 in April 2024, down 3.5% from last year, and the median price per square foot was $172.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | - | - | N/A |
3 Bedrooms | $475K | $505K | +6.3% |
4 Bedrooms | $520K | $449.9K | -13.5% |
5+ Bedrooms | $472.5K | $509.9K | +7.9% |
Summary: Farmington housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 6.3%, 4 bedroom homes decreased by 13.5%, and 5+ bedroom homes increased by 7.9%.
Housing Supply in Farmington, TN
How many homes are available in Farmington, TN?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
6 | 8 | +33.3% |
Summary: The Farmington real estate market had 8 homes for sale in April 2024, a 33.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 0 | 0 | 0.0% |
3 Bedrooms | 0 | 0 | 0.0% |
4 Bedrooms | 3 | 4 | +33.3% |
5+ Bedrooms | 3 | 4 | +33.3% |
Summary: The Farmington housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
0 | 1 | +100.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 1 homes were sold or pending in Farmington in April 2024, up by 100.0% month-over-month. Of the 1 sold homes, 0% were sold under asking, 100% were sold at asking, and 0% were sold over asking.
Days on Market for Farmington, TN
How long does it take to sell a home in Farmington, TN?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
62 Days | 14 Days | -77.6% |
Summary: Homes in Farmington had an average of 14 days on market in Apr 2024, down by 77.6% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 1 homes were sold in Farmington; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.