Is Murfreesboro, 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, Murfreesboro has remained a Seller's Market.
Housing Prices in Murfreesboro, TN
How much do homes in Murfreesboro, TN cost?
Median Sold Price
$417,588
$209/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Murfreesboro was $417,588 in March 2024, up 0.8% from last year, and the median price per square foot was $209.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $133K | $155K | +16.5% |
2 Bedrooms | $279.9K | $279.9K | 0% |
3 Bedrooms | $381.5K | $384.2K | +0.7% |
4 Bedrooms | $521.9K | $519.9K | -0.4% |
5+ Bedrooms | $598.1K | $615.4K | +2.9% |
Summary: Murfreesboro housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 16.5%, 2 bedroom homes did not change, 3 bedroom homes increased by 0.7%, 4 bedroom homes decreased by 0.4%, and 5+ bedroom homes increased by 2.9%.
Housing Supply in Murfreesboro, TN
How many homes are available in Murfreesboro, TN?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
893 | 916 | +2.6% |
Summary: The Murfreesboro real estate market had 916 homes for sale in March 2024, a 2.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 87 | 99 | +13.8% |
3 Bedrooms | 396 | 419 | +5.8% |
4 Bedrooms | 333 | 325 | -2.4% |
5+ Bedrooms | 76 | 72 | -5.3% |
Summary: The Murfreesboro 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 13.8%, 3 bedroom homes increased by 5.8%, 4 bedroom homes decreased by 2.4%, and 5+ bedroom homes decreased by 5.3%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
205 | 225 | +9.8% |
Asking Price vs. Sold Price
80 Homes Were Sold
Under Asking
97 Homes Were Sold
At Asking
39 Homes Were Sold
Over Asking
Summary: A total of 225 homes were sold or pending in Murfreesboro in March 2024, up by 9.8% month-over-month. Of the 216 sold homes, 37% were sold under asking, 45% were sold at asking, and 18% were sold over asking.
Days on Market for Murfreesboro, TN
How long does it take to sell a home in Murfreesboro, TN?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
39 Days | 32 Days | -18.6% |
Summary: Homes in Murfreesboro had an average of 32 days on market in Mar 2024, down by 18.6% compared to last year.
Breakdown of Home Sale Times
147 Homes Were Sold
Under 30 Days
56 Homes Were Sold
In 30 - 90 Days
21 Homes Were Sold
Over 90 Days
Summary: During March 2024, 225 homes were sold in Murfreesboro; 65% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.