Is Sparta, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
At the same time last year, Sparta was a Seller's Market.
Housing Prices in Sparta, TN
How much do homes in Sparta, TN cost?
Median Sold Price
$250,000
$170/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in Sparta was $250,000 in February 2024, down 3.8% from last year, and the median price per square foot was $170.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $160.5K | N/A |
2 Bedrooms | $175.5K | $187.5K | +6.8% |
3 Bedrooms | $260K | $265K | +1.9% |
4 Bedrooms | $370K | $349.4K | -5.6% |
5+ Bedrooms | $259.9K | $450K | +73.1% |
Summary: Sparta housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 6.8%, 3 bedroom homes increased by 1.9%, 4 bedroom homes decreased by 5.6%, and 5+ bedroom homes increased by 73.1%.
Housing Supply in Sparta, TN
How many homes are available in Sparta, TN?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
143 | 154 | +7.7% |
Summary: The Sparta real estate market had 154 homes for sale in February 2024, a 7.7% increase compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 5 | 4 | -20.0% |
2 Bedrooms | 24 | 28 | +16.7% |
3 Bedrooms | 79 | 81 | +2.5% |
4 Bedrooms | 24 | 28 | +16.7% |
5+ Bedrooms | 11 | 13 | +18.2% |
Summary: The Sparta housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 20%, 2 bedroom homes increased by 16.7%, 3 bedroom homes increased by 2.5%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes increased by 18.2%.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
20 | 25 | +25.0% |
Asking Price vs. Sold Price
18 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 25 homes were sold or pending in Sparta in February 2024, up by 25.0% month-over-month. Of the 25 sold homes, 72% were sold under asking, 12% were sold at asking, and 16% were sold over asking.
Days on Market for Sparta, TN
How long does it take to sell a home in Sparta, TN?
Average Sale Time
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
54 Days | 60 Days | +12.0% |
Summary: Homes in Sparta had an average of 60 days on market in Feb 2024, up by 12% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During February 2024, 25 homes were sold in Sparta; 20% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 16% of homes were sold over 90 days.