Is Monterey, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Monterey has remained a Seller's Market.
Key Takeaway
Monterey is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Monterey, TN
How much do homes in Monterey, TN cost?
Median Sold Price
$325,000
$192/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Monterey have sold for 17.7% less than they did a year ago.
Summary: The median home sold price in Monterey was $325,000 in April 2024, down 17.7% from last year, and the median price per square foot was $192.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $125K | $319.9K | +155.9% |
| 2 Bedrooms | $321.5K | $240.5K | -25.2% |
| 3 Bedrooms | $399.9K | $430K | +7.5% |
| 4 Bedrooms | $215K | $575K | +167.4% |
| 5+ Bedrooms | $470K | $250K | -46.8% |
Summary: Monterey housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 155.9%, 2 bedroom homes decreased by 25.2%, 3 bedroom homes increased by 7.5%, 4 bedroom homes increased by 167.4%, and 5+ bedroom homes decreased by 46.8%.
Housing Supply in Monterey, TN
How many homes are available in Monterey, TN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 40 | 43 | +7.5% |
Summary: The Monterey real estate market had 43 homes for sale in April 2024, a 7.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 7 | 6 | -14.3% |
| 3 Bedrooms | 22 | 26 | +18.2% |
| 4 Bedrooms | 8 | 7 | -12.5% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Monterey housing inventory by bedroom type for April 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 increased by 18.2%, 4 bedroom homes decreased by 12.5%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 5 | 9 | +80.0% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Monterey, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in Monterey in April 2024, up by 80.0% month-over-month. Of the 9 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Monterey, TN
How long does it take to sell a home in Monterey, TN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 42 Days | 64 Days | +53.1% |
Summary: Homes in Monterey had an average of 64 days on market in Apr 2024, up by 53.1% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Monterey has remained consistent over time.
Summary: During April 2024, 9 homes were sold in Monterey; 11% of homes were sold within 30 days, 67% of homes were sold within 30 to 90 days, and 22% of homes were sold over 90 days.
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. 
Listings courtesy of RealTracs Middle Tennessee Regional MLS as distributed by MLS GRID.
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