Is Southeast, 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, Southeast has remained a Seller's Market.
Housing Prices in Southeast, TN
How much do homes in Southeast, TN cost?
Median Sold Price
$446,095
$244/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Southeast was $446,095 in March 2024, down 0.9% from last year, and the median price per square foot was $244.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $181K | $220K | +21.5% |
2 Bedrooms | $300K | $300K | 0.0% |
3 Bedrooms | $446.2K | $441.6K | -1.0% |
4 Bedrooms | $561K | $565K | +0.7% |
5+ Bedrooms | $680K | $640K | -5.9% |
Summary: Southeast housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 21.5%, 2 bedroom homes did not change, 3 bedroom homes decreased by 1%, 4 bedroom homes increased by 0.7%, and 5+ bedroom homes decreased by 5.9%.
Median Sold Price Compared To Nearby Neighborhoods
Southeast | $450K | $446K | -0.9% |
Lennox Village | $380K | $362.7K | -4.5% |
Housing Supply in Southeast, TN
How many homes are available in Southeast, TN?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
473 | 517 | +9.3% |
Summary: The Southeast real estate market had 517 homes for sale in March 2024, a 9.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 5 | 8 | +60.0% |
2 Bedrooms | 101 | 106 | +5.0% |
3 Bedrooms | 226 | 249 | +10.2% |
4 Bedrooms | 115 | 126 | +9.6% |
5+ Bedrooms | 26 | 28 | +7.7% |
Summary: The Southeast housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 60%, 2 bedroom homes increased by 5%, 3 bedroom homes increased by 10.2%, 4 bedroom homes increased by 9.6%, and 5+ bedroom homes increased by 7.7%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
94 | 119 | +26.6% |
Asking Price vs. Sold Price
75 Homes Were Sold
Under Asking
26 Homes Were Sold
At Asking
18 Homes Were Sold
Over Asking
Summary: A total of 119 homes were sold or pending in Southeast in March 2024, up by 26.6% month-over-month. Of the 119 sold homes, 63% were sold under asking, 22% were sold at asking, and 15% were sold over asking.
Days on Market for Southeast, TN
How long does it take to sell a home in Southeast, TN?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
28 Days | 30 Days | +9.3% |
Summary: Homes in Southeast had an average of 30 days on market in Mar 2024, up by 9.3% compared to last year.
Breakdown of Home Sale Times
80 Homes Were Sold
Under 30 Days
25 Homes Were Sold
In 30 - 90 Days
11 Homes Were Sold
Over 90 Days
Summary: During March 2024, 119 homes were sold in Southeast; 67% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.