$3,551 Closing Credit*
$299,000
3 Beds
•3 Full Baths
Listing Office: Crye-Leike, Inc., REALTORS
Is Colonial Acres, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Colonial Acres was a Buyer's Market.
Key Takeaway
Colonial Acres is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Colonial Acres, TN
How much do homes in Colonial Acres, TN cost?
Median Sold Price
$215,000
-
Based on all homes sold in October 2024.
Difference Since Last Month
-$22,500(-9.5%)
Key Takeaway
Homes in Colonial Acres have sold for 9.5% less than they did a month ago.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $215K | $145K | -32.6% |
| 3 Bedrooms | $214.5K | $221K | +3.0% |
| 4 Bedrooms | $270K | $135.9K | -49.7% |
| 5+ Bedrooms | - | - | N/A |
Summary: Colonial Acres housing prices by bedroom type for October 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 32.6%, 3 bedroom homes increased by 3%, 4 bedroom homes decreased by 49.7%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| Southeast Memphis | $190K | $179.9K | -5.3% |
| Sea Isle Park | $265K | $250K | -5.7% |
| Colonial Acres | $237.5K | $215K | -9.5% |
Housing Supply in Colonial Acres, TN
How many homes are available in Colonial Acres, TN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 72 | 88 | +22.2% |
Summary: The Colonial Acres real estate market had 88 homes for sale in October 2024, a 22.2% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 8 | 8 | 0.0% |
| 3 Bedrooms | 56 | 68 | +21.4% |
| 4 Bedrooms | 7 | 11 | +57.1% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Colonial Acres housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 21.4%, 4 bedroom homes increased by 57.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 6 | 19 | +216.7% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Colonial Acres, you may be able to get a good deal. 68.4% of homes here sold below asking price last month.
Summary: A total of 19 homes were sold or pending in Colonial Acres in October 2024, up by 216.7% month-over-month. Of the 19 sold homes, 68% were sold under asking, 21% were sold at asking, and 11% were sold over asking.
Days on Market for Colonial Acres, TN
We’re sorry, we don't have information for this market at the moment
