$119,900
5.02 Acres
Land
Lucas A Carr, Listing Office: Wally Gilliam Realty & Auction
Is Westmoreland, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since September 2023
At the same time last year, Westmoreland was a Buyer's Market.
Key Takeaway
Westmoreland is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Westmoreland, TN
How much do homes in Westmoreland, TN cost?
Median Sold Price
$310,000
$214/sqft
Based on all homes sold in the last 12 months.
Difference Since September 2023
+$20,100(+6.9%)
Key Takeaway
Homes in Westmoreland have sold for 6.9% more than they did a year ago.
Summary: The median home sold price in Westmoreland was $310,000 in September 2024, up 6.9% from last year, and the median price per square foot was $214.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $172.5K | $203.7K | +18.1% |
| 3 Bedrooms | $297.4K | $314.9K | +5.9% |
| 4 Bedrooms | $327K | $277.5K | -15.1% |
| 5+ Bedrooms | $170K | $394.9K | +132.3% |
Summary: Westmoreland housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 18.1%, 3 bedroom homes increased by 5.9%, 4 bedroom homes decreased by 15.1%, and 5+ bedroom homes increased by 132.3%.
Housing Supply in Westmoreland, TN
How many homes are available in Westmoreland, TN?
Number of Homes For Sale
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 47 | 45 | -4.3% |
Summary: The Westmoreland real estate market had 45 homes for sale in September 2024, a 4.3% decrease compared to August 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 8 | 9 | +12.5% |
| 3 Bedrooms | 36 | 33 | -8.3% |
| 4 Bedrooms | 3 | 3 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Westmoreland housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 12.5%, 3 bedroom homes decreased by 8.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 7 | 7 | 0.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Westmoreland, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in Westmoreland in September 2024, the same as the previous month. Of the 7 sold homes, 57% were sold under asking, 29% were sold at asking, and 14% were sold over asking.
Days on Market for Westmoreland, TN
How long does it take to sell a home in Westmoreland, TN?
Average Sale Time
| Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|
| 43 Days | 67 Days | +55.9% |
Summary: Homes in Westmoreland had an average of 67 days on market in Sep 2024, up by 55.9% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Westmoreland are selling fast, if you're buying plan to act quickly.
Summary: During September 2024, 7 homes were sold in Westmoreland; 43% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 29% 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.