Is Smyrna, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Smyrna has remained a Seller's Market.
Key Takeaway
Smyrna is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Smyrna, TN
How much do homes in Smyrna, TN cost?
Median Sold Price
$424,450
$216/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Smyrna have sold for 9.3% more than they did a year ago.
Summary: The median home sold price in Smyrna was $424,450 in March 2024, up 9.3% from last year, and the median price per square foot was $216.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $400K | $358K | -10.5% |
| 2 Bedrooms | $290K | $310K | +6.9% |
| 3 Bedrooms | $365.6K | $375K | +2.6% |
| 4 Bedrooms | $539.9K | $509.9K | -5.5% |
| 5+ Bedrooms | $594.3K | $581K | -2.2% |
Summary: Smyrna housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 10.5%, 2 bedroom homes increased by 6.9%, 3 bedroom homes increased by 2.6%, 4 bedroom homes decreased by 5.5%, and 5+ bedroom homes decreased by 2.2%.
Median Sold Price Compared To Nearby Cities
| Smyrna | $388.2K | $424.4K | +9.3% |
| La Vergne | $354.2K | $360.3K | +1.7% |
| Murfreesboro | $414.2K | $417.5K | +0.8% |
Housing Supply in Smyrna, TN
How many homes are available in Smyrna, TN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 268 | 253 | -5.6% |
Summary: The Smyrna real estate market had 253 homes for sale in March 2024, a 5.6% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 23 | 24 | +4.3% |
| 3 Bedrooms | 113 | 106 | -6.2% |
| 4 Bedrooms | 109 | 100 | -8.3% |
| 5+ Bedrooms | 23 | 22 | -4.3% |
Summary: The Smyrna housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 4.3%, 3 bedroom homes decreased by 6.2%, 4 bedroom homes decreased by 8.3%, and 5+ bedroom homes decreased by 4.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 69 | 56 | -18.8% |
Asking Price vs. Sold Price
23 Homes Were Sold
Under Asking
24 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Smyrna, expect to pay close to the asking price. 42.9% of homes here sold near the asking price last month.
Summary: A total of 56 homes were sold or pending in Smyrna in March 2024, down by 18.8% month-over-month. Of the 56 sold homes, 41% were sold under asking, 43% were sold at asking, and 16% were sold over asking.
Days on Market for Smyrna, TN
How long does it take to sell a home in Smyrna, TN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 44 Days | 22 Days | -51.0% |
Summary: Homes in Smyrna had an average of 22 days on market in Mar 2024, down by 51% compared to last year.
Breakdown of Home Sale Times
47 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Smyrna are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 56 homes were sold in Smyrna; 84% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 5% 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.