Is Leoma, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Leoma was a Seller's Market.
Key Takeaway
Leoma is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Leoma, TN
How much do homes in Leoma, TN cost?
Median Sold Price
$252,500
$170/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Leoma have sold for 12.9% less than they did a year ago.
Summary: The median home sold price in Leoma was $252,500 in March 2024, down 12.9% from last year, and the median price per square foot was $170.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $275K | N/A |
| 2 Bedrooms | $253K | $184.9K | -26.9% |
| 3 Bedrooms | $276K | $253.5K | -8.2% |
| 4 Bedrooms | $405K | $364K | -10.1% |
| 5+ Bedrooms | $392K | - | N/A |
Summary: Leoma 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 26.9%, 3 bedroom homes decreased by 8.2%, 4 bedroom homes decreased by 10.1%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Lawrenceburg | $227.4K | $229.9K | +1.1% |
| Leoma | $289.9K | $252.5K | -12.9% |
Housing Supply in Leoma, TN
How many homes are available in Leoma, TN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 25 | 28 | +12.0% |
Summary: The Leoma real estate market had 28 homes for sale in March 2024, a 12.0% 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 | 6 | 3 | -50.0% |
| 3 Bedrooms | 18 | 25 | +38.9% |
| 4 Bedrooms | 1 | 0 | -100.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Leoma 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 decreased by 50%, 3 bedroom homes increased by 38.9%, 4 bedroom homes decreased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 4 | 4 | 0.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Leoma, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Leoma in March 2024, the same as the previous month. Of the 4 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.
Days on Market for Leoma, TN
How long does it take to sell a home in Leoma, TN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 18 Days | 44 Days | +143.1% |
Summary: Homes in Leoma had an average of 44 days on market in Mar 2024, up by 143.1% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Leoma are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 4 homes were sold in Leoma; 75% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 25% 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.