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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Townsend is a buyer's market

Buyer's
Market

Difference Since February 2023

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

Key Takeaway

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

Housing Prices in Townsend, TN

How much do homes in Townsend, TN cost?

Median Sold Price

$424,500

$286/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

-$30,500(-6.7%)

Key Takeaway

Homes in Townsend have sold for 6.7% less than they did a year ago.

Summary: The median home sold price in Townsend was $424,500 in February 2024, down 6.7% from last year, and the median price per square foot was $286.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $396K$306K
-22.7%
2 $375K$439K
+17.1%
3 $532.5K$474.5K
-10.9%
4 $607K$700K
+15.3%
5+ -$900K
N/A

Summary: Townsend housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 22.7%, 2 bedroom homes increased by 17.1%, 3 bedroom homes decreased by 10.9%, 4 bedroom homes increased by 15.3%, and 5+ bedroom homes did not change.

Housing Supply in Townsend, TN

How many homes are available in Townsend, TN?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
4347+9.3%

Summary: The Townsend real estate market had 47 homes for sale in February 2024, a 9.3% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 42
-50.0%
2 2024
+20.0%
3 1415
+7.1%
4 12
+100.0%
5+ 44
0.0%

Summary: The Townsend housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 20%, 3 bedroom homes increased by 7.1%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
102-80.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Townsend, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 2 homes were sold or pending in Townsend in February 2024, down by 80.0% month-over-month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for Townsend, TN

We’re sorry, we don't have information for this market at the moment

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

Report Updated 3 Days Ago

Newest Listings in Townsend, TN

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