Is Shelby Hills, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Shelby Hills was a Seller's Market.
Key Takeaway
Shelby Hills is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Shelby Hills, TN
How much do homes in Shelby Hills, TN cost?
Median Sold Price
$821,200
$381/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Shelby Hills have sold for 16.5% more than they did a year ago.
Summary: The median home sold price in Shelby Hills was $821,200 in April 2024, up 16.5% from last year, and the median price per square foot was $381.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $450.7K | $305K | -32.3% |
| 3 Bedrooms | $529.9K | $725K | +36.8% |
| 4 Bedrooms | $1.2M | $950K | -24.2% |
| 5+ Bedrooms | $1.4M | $1.7M | +18.8% |
Summary: Shelby Hills housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 32.3%, 3 bedroom homes increased by 36.8%, 4 bedroom homes decreased by 24.2%, and 5+ bedroom homes increased by 18.8%.
Median Sold Price Compared To Nearby Neighborhoods
| East End | $580.7K | $1.1M | +91.1% |
| Lockeland Springs | $815K | $988.5K | +21.3% |
| Shelby Hills | $705K | $821.2K | +16.5% |
| Historic Edgefield | $775K | $897.2K | +15.8% |
Housing Supply in Shelby Hills, TN
How many homes are available in Shelby Hills, TN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 21 | 21 | 0.0% |
Summary: The Shelby Hills real estate market had 21 homes for sale in April 2024, the same as March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 4 | 6 | +50.0% |
| 3 Bedrooms | 8 | 7 | -12.5% |
| 4 Bedrooms | 8 | 7 | -12.5% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Shelby Hills housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 50%, 3 bedroom homes decreased by 12.5%, 4 bedroom homes decreased by 12.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 5 | 2 | -60.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Shelby Hills, 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 Shelby Hills in April 2024, down by 60.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.
Days on Market for Shelby Hills, TN
How long does it take to sell a home in Shelby Hills, TN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 70 Days | 30 Days | -57.2% |
Summary: Homes in Shelby Hills had an average of 30 days on market in Apr 2024, down by 57.2% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Shelby Hills are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 2 homes were sold in Shelby Hills; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Listings courtesy of RealTracs Middle Tennessee Regional MLS as distributed by MLS GRID.
© 2024 of the REALTRACS MLS. All rights Reserved.