$4,156 Closing Credit*
$350,000
1,772 SqFt
3 Beds
•2 Full Baths, 1 Partial
Courtney Mevs, Listing Office: Compass Tennessee, LLC
Is Hermitage, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, Hermitage has remained a Seller's Market.
Key Takeaway
Hermitage is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Hermitage, TN
How much do homes in Hermitage, TN cost?
Median Sold Price
$429,000
$226/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$21,500(+5.3%)
Key Takeaway
Homes in Hermitage have sold for 5.3% more than they did a year ago.
Summary: The median home sold price in Hermitage was $429,000 in November 2024, up 5.3% from last year, and the median price per square foot was $226.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $227K | $189.5K | -16.5% |
| 2 Bedrooms | $320K | $316.4K | -1.1% |
| 3 Bedrooms | $404.4K | $415K | +2.6% |
| 4 Bedrooms | $490K | $499.7K | +2.0% |
| 5+ Bedrooms | $514.8K | $527.5K | +2.5% |
Summary: Hermitage housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 16.5%, 2 bedroom homes decreased by 1.1%, 3 bedroom homes increased by 2.6%, 4 bedroom homes increased by 2%, and 5+ bedroom homes increased by 2.5%.
Median Sold Price Compared To Nearby Cities
| Old Hickory | $360.5K | $395K | +9.6% |
| Mount Juliet | $533.1K | $570.3K | +7.0% |
| Hermitage | $407.5K | $429K | +5.3% |
| Nashville | $511.9K | $531.2K | +3.8% |
Housing Supply in Hermitage, TN
How many homes are available in Hermitage, TN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 259 | 287 | +10.8% |
Summary: The Hermitage real estate market had 287 homes for sale in November 2024, a 10.8% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 35 | 34 | -2.9% |
| 3 Bedrooms | 131 | 155 | +18.3% |
| 4 Bedrooms | 75 | 77 | +2.7% |
| 5+ Bedrooms | 17 | 20 | +17.6% |
Summary: The Hermitage housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 2.9%, 3 bedroom homes increased by 18.3%, 4 bedroom homes increased by 2.7%, and 5+ bedroom homes increased by 17.6%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 43 | 58 | +34.9% |
Asking Price vs. Sold Price
30 Homes Were Sold
Under Asking
21 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Hermitage, you may be able to get a good deal. 51.7% of homes here sold below asking price last month.
Summary: A total of 58 homes were sold or pending in Hermitage in November 2024, up by 34.9% month-over-month. Of the 58 sold homes, 52% were sold under asking, 36% were sold at asking, and 12% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 36 Days | 33 Days | -9.9% |
Summary: Homes in Hermitage had an average of 33 days on market in Nov 2024, down by 9.9% compared to last year.
Breakdown of Home Sale Times
40 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Hermitage are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 58 homes were sold in Hermitage; 69% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 12% 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.