Is Fayette County, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Fayette County is a buyer's market

Buyer's
Market

Difference Since Last Month

Last month, Fayette County was a Seller's Market.

Key Takeaway

Fayette County is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Fayette County, TN

How much do homes in Fayette County, TN cost?

Median Sold Price

$333,990

-

Based on all homes sold in March 2024.

Difference Since Last Month

-$32,455(-8.9%)

Key Takeaway

Homes in Fayette County have sold for 8.9% less than they did a month ago.

Median Sold Price By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 --
N/A
2 -$210.4K
N/A
3 $262K$280K
+6.9%
4 $371.9K$369.9K
-0.5%
5+ $444.9K$406K
-8.7%

Summary: Fayette County housing prices by bedroom type for March 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 6.9%, 4 bedroom homes decreased by 0.5%, and 5+ bedroom homes decreased by 8.7%.

Median Sold Price Compared To Nearby Counties

Shelby County
+12.7%
Fayette County
-8.9%
Hardeman County
-56.0%
Haywood County
-62.9%

Housing Supply in Fayette County, TN

How many homes are available in Fayette County, TN?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
179202+12.8%

Summary: The Fayette County real estate market had 202 homes for sale in March 2024, a 12.8% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 13
+200.0%
2 78
+14.3%
3 5663
+12.5%
4 90104
+15.6%
5+ 2524
-4.0%

Summary: The Fayette County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 200%, 2 bedroom homes increased by 14.3%, 3 bedroom homes increased by 12.5%, 4 bedroom homes increased by 15.6%, and 5+ bedroom homes decreased by 4%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
3027-10.0%

Asking Price vs. Sold Price

16 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Fayette County, you may be able to get a good deal. 59.3% of homes here sold below asking price last month.

Summary: A total of 27 homes were sold or pending in Fayette County in March 2024, down by 10.0% month-over-month. Of the 27 sold homes, 59% were sold under asking, 26% were sold at asking, and 15% were sold over asking.

Days on Market for Fayette County, TN

We’re sorry, we don't have information for this market at the moment

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

Report Updated 24 Days Ago

Newest Listings in Fayette County, TN

Nearby Markets to Fayette County, TN

What housing markets are near Fayette County, TN?