Is Manchester, 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, Manchester has remained a Seller's Market.
Key Takeaway
Manchester is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Manchester, TN
How much do homes in Manchester, TN cost?
Median Sold Price
$306,933
$185/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Manchester have sold for 4.1% more than they did a year ago.
Summary: The median home sold price in Manchester was $306,933 in March 2024, up 4.1% from last year, and the median price per square foot was $185.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $257K | - | N/A |
| 2 Bedrooms | $151K | $207K | +37.1% |
| 3 Bedrooms | $284.4K | $300K | +5.5% |
| 4 Bedrooms | $435K | $400K | -8.0% |
| 5+ Bedrooms | $515K | $371K | -28.0% |
Summary: Manchester 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 increased by 37.1%, 3 bedroom homes increased by 5.5%, 4 bedroom homes decreased by 8%, and 5+ bedroom homes decreased by 28%.
Median Sold Price Compared To Nearby Cities
| Manchester | $294.9K | $306.9K | +4.1% |
| Hillsboro | $340K | $269.9K | -20.6% |
Housing Supply in Manchester, TN
How many homes are available in Manchester, TN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 114 | 113 | -0.9% |
Summary: The Manchester real estate market had 113 homes for sale in March 2024, a 0.9% decrease 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 | 7 | 6 | -14.3% |
| 3 Bedrooms | 85 | 84 | -1.2% |
| 4 Bedrooms | 21 | 21 | 0.0% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Manchester 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 14.3%, 3 bedroom homes decreased by 1.2%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 25 | 27 | +8.0% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
12 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Manchester, you may be able to get a good deal. 48.1% of homes here sold below asking price last month.
Summary: A total of 27 homes were sold or pending in Manchester in March 2024, up by 8.0% month-over-month. Of the 27 sold homes, 48% were sold under asking, 44% were sold at asking, and 7% were sold over asking.
Days on Market for Manchester, TN
How long does it take to sell a home in Manchester, TN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 28 Days | 45 Days | +59.7% |
Summary: Homes in Manchester had an average of 45 days on market in Mar 2024, up by 59.7% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Manchester are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 27 homes were sold in Manchester; 56% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 15% 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.