Is Richwood, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Richwood was a Seller's Market.
Key Takeaway
Richwood is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Richwood, TN
How much do homes in Richwood, TN cost?
Median Sold Price
$275,000
-
Based on all homes sold in March 2024.
Difference Since Last Month
Key Takeaway
Homes in Richwood have sold for 7.6% more than they did a month ago.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | $255.5K | $252K | -1.4% |
| 4 Bedrooms | $286K | $290K | +1.4% |
| 5+ Bedrooms | - | - | N/A |
Summary: Richwood housing prices by bedroom type for March 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 1.4%, 4 bedroom homes increased by 1.4%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| Buckingham Farms | $199K | $256.9K | +29.1% |
| Richwood | $255.5K | $275K | +7.6% |
Housing Supply in Richwood, TN
How many homes are available in Richwood, TN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 32 | 34 | +6.3% |
Summary: The Richwood real estate market had 34 homes for sale in March 2024, a 6.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 21 | 23 | +9.5% |
| 4 Bedrooms | 11 | 9 | -18.2% |
| 5+ Bedrooms | 0 | 2 | +100.0% |
Summary: The Richwood 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 remained the same, 3 bedroom homes increased by 9.5%, 4 bedroom homes decreased by 18.2%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 8 | 3 | -62.5% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Richwood, you may be able to get a good deal. 33.3% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Richwood in March 2024, down by 62.5% month-over-month. Of the 3 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.
Days on Market for Richwood, TN
We’re sorry, we don't have information for this market at the moment
