Is McMinnville, 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, McMinnville was a Seller's Market.
Key Takeaway
McMinnville 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 McMinnville, TN
How much do homes in McMinnville, TN cost?
Median Sold Price
$254,823
$172/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in McMinnville have sold for 9.4% more than they did a year ago.
Summary: The median home sold price in McMinnville was $254,823 in March 2024, up 9.4% from last year, and the median price per square foot was $172.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $117.5K | $169.9K | +44.6% |
| 2 Bedrooms | $169.9K | $175K | +3.0% |
| 3 Bedrooms | $235K | $263.8K | +12.3% |
| 4 Bedrooms | $285K | $290K | +1.8% |
| 5+ Bedrooms | $523.8K | $490K | -6.5% |
Summary: McMinnville housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 44.6%, 2 bedroom homes increased by 3%, 3 bedroom homes increased by 12.3%, 4 bedroom homes increased by 1.8%, and 5+ bedroom homes decreased by 6.5%.
Housing Supply in McMinnville, TN
How many homes are available in McMinnville, TN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 182 | 207 | +13.7% |
Summary: The McMinnville real estate market had 207 homes for sale in March 2024, a 13.7% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 15 | 19 | +26.7% |
| 3 Bedrooms | 128 | 145 | +13.3% |
| 4 Bedrooms | 31 | 34 | +9.7% |
| 5+ Bedrooms | 6 | 7 | +16.7% |
Summary: The McMinnville 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 26.7%, 3 bedroom homes increased by 13.3%, 4 bedroom homes increased by 9.7%, and 5+ bedroom homes increased by 16.7%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 29 | 31 | +6.9% |
Asking Price vs. Sold Price
19 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in McMinnville, you may be able to get a good deal. 63.3% of homes here sold below asking price last month.
Summary: A total of 31 homes were sold or pending in McMinnville in March 2024, up by 6.9% month-over-month. Of the 30 sold homes, 63% were sold under asking, 23% were sold at asking, and 13% were sold over asking.
Days on Market for McMinnville, TN
How long does it take to sell a home in McMinnville, TN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 56 Days | 44 Days | -22.1% |
Summary: Homes in McMinnville had an average of 44 days on market in Mar 2024, down by 22.1% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in McMinnville are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 31 homes were sold in McMinnville; 55% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 23% 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. 
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Knoxville Area Association of REALTORS® Multiple Listing Service. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some or all of the listings may not belong to the firm whose website is being visited. Real estate listings held by brokerage firms other than this broker are indicated by detailed information about them such as the name of the listing firms. 
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Greater Chattanooga Association of Realtors®. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Copyright© 2024 Greater Chattanooga Association of REALTORS®.