Is Westmoreland, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Westmoreland was a Seller's Market.
Housing Prices in Westmoreland, TN
How much do homes in Westmoreland, TN cost?
Median Sold Price
$299,900
$203/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Westmoreland was $299,900 in April 2024, up 6.7% from last year, and the median price per square foot was $203.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $145K | $195K | +34.5% |
3 Bedrooms | $289.5K | $307.5K | +6.2% |
4 Bedrooms | $375K | $320K | -14.7% |
5+ Bedrooms | - | $250K | N/A |
Summary: Westmoreland 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 increased by 34.5%, 3 bedroom homes increased by 6.2%, 4 bedroom homes decreased by 14.7%, and 5+ bedroom homes did not change.
Housing Supply in Westmoreland, TN
How many homes are available in Westmoreland, TN?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
36 | 42 | +16.7% |
Summary: The Westmoreland real estate market had 42 homes for sale in April 2024, a 16.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 4 | 6 | +50.0% |
3 Bedrooms | 29 | 30 | +3.4% |
4 Bedrooms | 2 | 4 | +100.0% |
5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The Westmoreland 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 increased by 50%, 3 bedroom homes increased by 3.4%, 4 bedroom homes increased by 100%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
8 | 6 | -25.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 6 homes were sold or pending in Westmoreland in April 2024, down by 25.0% month-over-month. Of the 6 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
53 Days | 52 Days | -1.2% |
Summary: Homes in Westmoreland had an average of 52 days on market in Apr 2024, down by 1.2% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 6 homes were sold in Westmoreland; 33% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.