Is Kelso, 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, Kelso has remained a Seller's Market.
Key Takeaway
Kelso is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Kelso, TN
How much do homes in Kelso, TN cost?
Median Sold Price
$235,000
$174/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Kelso have sold for 25% less than they did a year ago.
Summary: The median home sold price in Kelso was $235,000 in March 2024, down 25% from last year, and the median price per square foot was $174.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $440K | $147.5K | -66.5% |
| 3 Bedrooms | $313.5K | $227.5K | -27.4% |
| 4 Bedrooms | $230K | $1.7M | +639.1% |
| 5+ Bedrooms | - | $260K | N/A |
Summary: Kelso housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 66.5%, 3 bedroom homes decreased by 27.4%, 4 bedroom homes increased by 639.1%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Lynchburg | $362K | $389K | +7.5% |
| Kelso | $313.5K | $235K | -25.0% |
Housing Supply in Kelso, TN
How many homes are available in Kelso, TN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 4 | 5 | +25.0% |
Summary: The Kelso real estate market had 5 homes for sale in March 2024, a 25.0% 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 | 1 | 1 | 0.0% |
| 3 Bedrooms | 2 | 3 | +50.0% |
| 4 Bedrooms | 0 | 0 | 0.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Kelso 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 remained the same, 3 bedroom homes increased by 50%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 0 | 3 | +100.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Kelso, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Kelso in March 2024, up by 100.0% month-over-month. Of the 3 sold homes, 67% were sold under asking, 33% were sold at asking, and 0% were sold over asking.
Days on Market for Kelso, TN
How long does it take to sell a home in Kelso, TN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 35 Days | 21 Days | -40.0% |
Summary: Homes in Kelso had an average of 21 days on market in Mar 2024, down by 40% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Kelso are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 3 homes were sold in Kelso; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% 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.