Is Shelbyville, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Shelbyville has remained a Seller's Market.
Key Takeaway
Shelbyville is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Shelbyville, TN
How much do homes in Shelbyville, TN cost?
Median Sold Price
$308,990
$197/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Shelbyville have sold for 5% more than they did a year ago.
Summary: The median home sold price in Shelbyville was $308,990 in April 2024, up 5% from last year, and the median price per square foot was $197.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $81K | $329.9K | +307.3% |
| 2 Bedrooms | $220K | $230K | +4.5% |
| 3 Bedrooms | $294.9K | $304.9K | +3.4% |
| 4 Bedrooms | $353.4K | $354.7K | 0.4% |
| 5+ Bedrooms | $422.9K | $365.5K | -13.6% |
Summary: Shelbyville housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 307.3%, 2 bedroom homes increased by 4.5%, 3 bedroom homes increased by 3.4%, 4 bedroom homes increased by 0.4%, and 5+ bedroom homes decreased by 13.6%.
Housing Supply in Shelbyville, TN
How many homes are available in Shelbyville, TN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 183 | 195 | +6.6% |
Summary: The Shelbyville real estate market had 195 homes for sale in April 2024, a 6.6% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 17 | 20 | +17.6% |
| 3 Bedrooms | 131 | 141 | +7.6% |
| 4 Bedrooms | 30 | 29 | -3.3% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Shelbyville 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 17.6%, 3 bedroom homes increased by 7.6%, 4 bedroom homes decreased by 3.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 44 | 45 | +2.3% |
Asking Price vs. Sold Price
24 Homes Were Sold
Under Asking
14 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Shelbyville, you may be able to get a good deal. 55.8% of homes here sold below asking price last month.
Summary: A total of 45 homes were sold or pending in Shelbyville in April 2024, up by 2.3% month-over-month. Of the 43 sold homes, 56% were sold under asking, 33% were sold at asking, and 12% were sold over asking.
Days on Market for Shelbyville, TN
How long does it take to sell a home in Shelbyville, TN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 51 Days | 46 Days | -9.6% |
Summary: Homes in Shelbyville had an average of 46 days on market in Apr 2024, down by 9.6% compared to last year.
Breakdown of Home Sale Times
26 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Shelbyville are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 45 homes were sold in Shelbyville; 58% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 16% 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.