Is Southwood, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Southwood is a buyer's market

Buyer's
Market

Difference Since April 2023

At the same time last year, Southwood was a Seller's Market.

Key Takeaway

Southwood is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Southwood, TN

How much do homes in Southwood, TN cost?

Median Sold Price

$562,500

$223/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$42,011(+8.1%)

Key Takeaway

Homes in Southwood have sold for 8.1% more than they did a year ago.

Summary: The median home sold price in Southwood was $562,500 in April 2024, up 8.1% from last year, and the median price per square foot was $223.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 --
N/A
2 --
N/A
3 -$506.9K
N/A
4 $508.7K$575K
+13.0%
5+ $730K$855K
+17.1%

Summary: Southwood 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 did not change, 3 bedroom homes did not change, 4 bedroom homes increased by 13%, and 5+ bedroom homes increased by 17.1%.

Housing Supply in Southwood, TN

How many homes are available in Southwood, TN?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
89+12.5%

Summary: The Southwood real estate market had 9 homes for sale in April 2024, a 12.5% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 00
0.0%
2 00
0.0%
3 22
0.0%
4 46
+50.0%
5+ 21
-50.0%

Summary: The Southwood 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 remained the same, 3 bedroom homes remained the same, 4 bedroom homes increased by 50%, and 5+ bedroom homes decreased by 50%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
21-50.0%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Southwood, you could pay more than the asking price. 100% of homes here sold above asking price last month.

Summary: A total of 1 homes were sold or pending in Southwood in April 2024, down by 50.0% month-over-month. Of the 1 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.

Days on Market for Southwood, TN

How long does it take to sell a home in Southwood, TN?

Average Sale Time

Apr 2023Apr 2024CHANGE
2 Days216 Days+10700.0%

Summary: Homes in Southwood had an average of 216 days on market in Apr 2024, up by 10700% compared to last year.

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in Southwood are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During April 2024, 1 homes were sold in Southwood; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 100% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 22 Days Ago

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