Is Shelby County, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
At the same time last year, Shelby County was a Seller's Market.
Housing Prices in Shelby County, TN
How much do homes in Shelby County, TN cost?
Median Sold Price
$261,127
$139/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Summary: The median home sold price in Shelby County was $261,127 in June 2024, down 5.8% from last year, and the median price per square foot was $139.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $138K | $133K | -3.6% |
2 Bedrooms | $150K | $141.7K | -5.5% |
3 Bedrooms | $224.9K | $211K | -6.2% |
4 Bedrooms | $377.1K | $370.3K | -1.8% |
5+ Bedrooms | $593.7K | $559.9K | -5.7% |
Summary: Shelby County housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 3.6%, 2 bedroom homes decreased by 5.5%, 3 bedroom homes decreased by 6.2%, 4 bedroom homes decreased by 1.8%, and 5+ bedroom homes decreased by 5.7%.
Median Sold Price Compared To Nearby Counties
Fayette County | $359.9K | $358.9K | -0.3% |
Shelby County | $277.3K | $261.1K | -5.8% |
Housing Supply in Shelby County, TN
How many homes are available in Shelby County, TN?
Number of Homes For Sale
May 2024 | Jun 2024 | CHANGE |
---|---|---|
4,300 | 4,715 | +9.7% |
Summary: The Shelby County real estate market had 4,715 homes for sale in June 2024, a 9.7% increase compared to May 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 55 | 65 | +18.2% |
2 Bedrooms | 534 | 585 | +9.6% |
3 Bedrooms | 1,851 | 2,015 | +8.9% |
4 Bedrooms | 1,251 | 1,388 | +11.0% |
5+ Bedrooms | 609 | 662 | +8.7% |
Summary: The Shelby County housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 18.2%, 2 bedroom homes increased by 9.6%, 3 bedroom homes increased by 8.9%, 4 bedroom homes increased by 11%, and 5+ bedroom homes increased by 8.7%.
Number of Homes Sold
May 2024 | Jun 2024 | CHANGE |
---|---|---|
909 | 664 | -27.0% |
Asking Price vs. Sold Price
343 Homes Were Sold
Under Asking
200 Homes Were Sold
At Asking
121 Homes Were Sold
Over Asking
Summary: A total of 664 homes were sold or pending in Shelby County in June 2024, down by 27.0% month-over-month. Of the 664 sold homes, 52% were sold under asking, 30% were sold at asking, and 18% were sold over asking.
Days on Market for Shelby County, TN
We’re sorry, we don't have information for this market at the moment