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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Selmer is a buyer's market

Buyer's
Market

Difference Since Last Month

Last month, Selmer was a Neutral Market.

Key Takeaway

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

Housing Prices in Selmer, TN

How much do homes in Selmer, TN cost?

Median Sold Price

$74,900

-

Based on all homes sold in February 2024.

Difference Since Last Month

-$56,050(-42.8%)

Key Takeaway

Homes in Selmer have sold for 42.8% less than they did a month ago.

Median Sold Price By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 $50K-
N/A
2 $130.9K$74.9K
-42.8%
3 $161.5K$137K
-15.2%
4 --
N/A
5+ --
N/A

Summary: Selmer housing prices by bedroom type for February 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 42.8%, 3 bedroom homes decreased by 15.2%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Bethel Springs
+44.6%
Selmer
-42.8%

Housing Supply in Selmer, TN

How many homes are available in Selmer, TN?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
3736-2.7%

Summary: The Selmer real estate market had 36 homes for sale in February 2024, a 2.7% decrease compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 21
-50.0%
2 75
-28.6%
3 2022
+10.0%
4 77
0.0%
5+ 11
0.0%

Summary: The Selmer housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 28.6%, 3 bedroom homes increased by 10%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
63-50.0%

Asking Price vs. Sold Price

2 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 Selmer, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.

Summary: A total of 3 homes were sold or pending in Selmer in February 2024, down by 50.0% month-over-month. Of the 3 sold homes, 67% were sold under asking, 33% were sold at asking, and 0% were sold over asking.

Days on Market for Selmer, TN

We’re sorry, we don't have information for this market at the moment

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 Selmer, TN

Nearby Markets to Selmer, TN