Is New Market, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing New Market is a seller's market

Buyer's
Market

Difference Since February 2023

At the same time last year, New Market was a Buyer's Market.

Key Takeaway

New Market is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in New Market, TN

How much do homes in New Market, TN cost?

Median Sold Price

$320,000

$184/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$65,000(+25.5%)

Key Takeaway

Homes in New Market have sold for 25.5% more than they did a year ago.

Summary: The median home sold price in New Market was $320,000 in February 2024, up 25.5% from last year, and the median price per square foot was $184.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 --
N/A
2 $203.9K$151K
-26.0%
3 $308K$334.5K
+8.6%
4 $250K$485K
+94.0%
5+ -$915K
N/A

Summary: New Market housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 26%, 3 bedroom homes increased by 8.6%, 4 bedroom homes increased by 94%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Jefferson City
+26.1%
New Market
+25.5%

Housing Supply in New Market, TN

How many homes are available in New Market, TN?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
2724-11.1%

Summary: The New Market real estate market had 24 homes for sale in February 2024, a 11.1% decrease compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 11
0.0%
3 1915
-21.1%
4 56
+20.0%
5+ 22
0.0%

Summary: The New Market housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 21.1%, 4 bedroom homes increased by 20%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
75-28.6%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in New Market, you may be able to get a good deal. 80% of homes here sold below asking price last month.

Summary: A total of 5 homes were sold or pending in New Market in February 2024, down by 28.6% month-over-month. Of the 5 sold homes, 80% were sold under asking, 20% were sold at asking, and 0% were sold over asking.

Days on Market for New Market, TN

How long does it take to sell a home in New Market, TN?

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in New Market has remained consistent over time.

Summary: During February 2024, 5 homes were sold in New Market; 0% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 28 Days Ago

Newest Listings in New Market, TN

Nearby Markets to New Market, TN

What housing markets are near New Market, TN?