Is Morristown, 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, Morristown has remained a Seller's Market.
Housing Prices in Morristown, TN
How much do homes in Morristown, TN cost?
Median Sold Price
$270,000
$155/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Morristown was $270,000 in April 2024, up 1.8% from last year, and the median price per square foot was $155.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $137.5K | $164.9K | +19.9% |
3 Bedrooms | $250K | $265.2K | +6.1% |
4 Bedrooms | $286.5K | $322.6K | +12.6% |
5+ Bedrooms | $365.9K | $316.8K | -13.4% |
Summary: Morristown housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 19.9%, 3 bedroom homes increased by 6.1%, 4 bedroom homes increased by 12.6%, and 5+ bedroom homes decreased by 13.4%.
Median Sold Price Compared To Nearby Cities
Jefferson City | $274.9K | $299.9K | +9.1% |
Talbott | $282.6K | $290.6K | +2.8% |
Morristown | $265.1K | $270K | +1.8% |
Housing Supply in Morristown, TN
How many homes are available in Morristown, TN?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
68 | 73 | +7.4% |
Summary: The Morristown real estate market had 73 homes for sale in April 2024, a 7.4% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 19 | 18 | -5.3% |
3 Bedrooms | 27 | 33 | +22.2% |
4 Bedrooms | 17 | 15 | -11.8% |
5+ Bedrooms | 5 | 7 | +40.0% |
Summary: The Morristown 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 5.3%, 3 bedroom homes increased by 22.2%, 4 bedroom homes decreased by 11.8%, and 5+ bedroom homes increased by 40%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
12 | 13 | +8.3% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 13 homes were sold or pending in Morristown in April 2024, up by 8.3% month-over-month. Of the 13 sold homes, 31% were sold under asking, 46% were sold at asking, and 23% were sold over asking.
Days on Market for Morristown, TN
How long does it take to sell a home in Morristown, TN?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
49 Days | 73 Days | +48.2% |
Summary: Homes in Morristown had an average of 73 days on market in Apr 2024, up by 48.2% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During April 2024, 13 homes were sold in Morristown; 46% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 23% of homes were sold over 90 days.