Is Petersburg, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Petersburg is a buyer's market

Buyer's
Market

Difference Since February 2023

Since last year, Petersburg has remained a Buyer's Market.

Key Takeaway

Petersburg is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Petersburg, TN

How much do homes in Petersburg, TN cost?

Median Sold Price

$310,000

$192/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$100,000(+47.6%)

Key Takeaway

Homes in Petersburg have sold for 47.6% more than they did a year ago.

Summary: The median home sold price in Petersburg was $310,000 in February 2024, up 47.6% from last year, and the median price per square foot was $192.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $200K$360K
+80.0%
2 $178.5K$154.5K
-13.4%
3 $252.4K$290K
+14.9%
4 $531.5K$576.4K
+8.4%
5+ --
N/A

Summary: Petersburg housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 80%, 2 bedroom homes decreased by 13.4%, 3 bedroom homes increased by 14.9%, 4 bedroom homes increased by 8.4%, and 5+ bedroom homes did not change.

Housing Supply in Petersburg, TN

How many homes are available in Petersburg, TN?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
1416+14.3%

Summary: The Petersburg real estate market had 16 homes for sale in February 2024, a 14.3% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 01
+100.0%
2 23
+50.0%
3 1010
0.0%
4 22
0.0%
5+ 00
0.0%

Summary: The Petersburg housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 50%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
12+100.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Petersburg, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 2 homes were sold or pending in Petersburg in February 2024, up by 100.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.

Days on Market for Petersburg, TN

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

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Petersburg are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 2 homes were sold in Petersburg; 50% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 50% 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 27 Days Ago

Newest Listings in Petersburg, TN

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