Is Cumberland Furnace, 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, Cumberland Furnace was a Seller's Market.
Housing Prices in Cumberland Furnace, TN
How much do homes in Cumberland Furnace, TN cost?
Median Sold Price
$485,400
$206/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Cumberland Furnace was $485,400 in April 2024, up 51.7% from last year, and the median price per square foot was $206.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $64K | - | N/A |
2 Bedrooms | $145K | $179.5K | +23.8% |
3 Bedrooms | $387.4K | $420K | +8.4% |
4 Bedrooms | $514K | $552.4K | +7.5% |
5+ Bedrooms | $460K | $574.9K | +25.0% |
Summary: Cumberland Furnace 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 23.8%, 3 bedroom homes increased by 8.4%, 4 bedroom homes increased by 7.5%, and 5+ bedroom homes increased by 25%.
Median Sold Price Compared To Nearby Cities
Cumberland Furnace | $319.9K | $485.4K | +51.7% |
Palmyra | $387.4K | $355K | -8.4% |
Housing Supply in Cumberland Furnace, TN
How many homes are available in Cumberland Furnace, TN?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
18 | 24 | +33.3% |
Summary: The Cumberland Furnace real estate market had 24 homes for sale in April 2024, a 33.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 1 | 1 | 0.0% |
3 Bedrooms | 7 | 12 | +71.4% |
4 Bedrooms | 10 | 11 | +10.0% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Cumberland Furnace 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 remained the same, 3 bedroom homes increased by 71.4%, 4 bedroom homes increased by 10%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
0 | 1 | +100.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 1 homes were sold or pending in Cumberland Furnace in April 2024, up by 100.0% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Cumberland Furnace, TN
How long does it take to sell a home in Cumberland Furnace, TN?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
32 Days | 12 Days | -62.8% |
Summary: Homes in Cumberland Furnace had an average of 12 days on market in Apr 2024, down by 62.8% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 1 homes were sold in Cumberland Furnace; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.