Is 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, Hermitage has remained a Seller's Market.
Housing Prices in Hermitage, TN
How much do homes in Hermitage, TN cost?
Median Sold Price
$415,000
$222/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Hermitage was $415,000 in March 2024, down 1.2% from last year, and the median price per square foot was $222.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $210K | $208.5K | -0.7% |
2 Bedrooms | $319.9K | $309.9K | -3.1% |
3 Bedrooms | $409.5K | $410K | 0.1% |
4 Bedrooms | $512.5K | $484.9K | -5.4% |
5+ Bedrooms | $550K | $526.1K | -4.3% |
Summary: Hermitage housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 0.7%, 2 bedroom homes decreased by 3.1%, 3 bedroom homes increased by 0.1%, 4 bedroom homes decreased by 5.4%, and 5+ bedroom homes decreased by 4.3%.
Median Sold Price Compared To Nearby Cities
Mount Juliet | $536.6K | $549.7K | +2.4% |
Nashville | $522.6K | $525.1K | 0.5% |
Hermitage | $420K | $415K | -1.2% |
Old Hickory | $384.9K | $375K | -2.6% |
Housing Supply in Hermitage, TN
How many homes are available in Hermitage, TN?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
167 | 177 | +6.0% |
Summary: The Hermitage real estate market had 177 homes for sale in March 2024, a 6.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 22 | 28 | +27.3% |
3 Bedrooms | 99 | 104 | +5.1% |
4 Bedrooms | 38 | 37 | -2.6% |
5+ Bedrooms | 8 | 8 | 0.0% |
Summary: The Hermitage housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 27.3%, 3 bedroom homes increased by 5.1%, 4 bedroom homes decreased by 2.6%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
32 | 40 | +25.0% |
Asking Price vs. Sold Price
21 Homes Were Sold
Under Asking
14 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 40 homes were sold or pending in Hermitage in March 2024, up by 25.0% month-over-month. Of the 40 sold homes, 53% were sold under asking, 35% were sold at asking, and 13% were sold over asking.
Days on Market for Hermitage, TN
How long does it take to sell a home in Hermitage, TN?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
41 Days | 23 Days | -43.2% |
Summary: Homes in Hermitage had an average of 23 days on market in Mar 2024, down by 43.2% compared to last year.
Breakdown of Home Sale Times
31 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During March 2024, 40 homes were sold in Hermitage; 78% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.