Is Fayette County, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Fayette County is a neutral's market

Buyer's
Market

Difference Since April 2023

At the same time last year, Fayette County was a Buyer's Market.

Key Takeaway

Fayette County 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 Fayette County, TN

How much do homes in Fayette County, TN cost?

Median Sold Price

$350,660

$41/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

-$32,090(-8.4%)

Key Takeaway

Homes in Fayette County have sold for 8.4% less than they did a year ago.

Summary: The median home sold price in Fayette County was $350,660 in April 2024, down 8.4% from last year, and the median price per square foot was $41.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 -$282.5K
N/A
2 $405.5K$308K
-24.0%
3 $285K$293.3K
+2.9%
4 $450K$369.9K
-17.8%
5+ $475.8K$445K
-6.5%

Summary: Fayette County 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 decreased by 24%, 3 bedroom homes increased by 2.9%, 4 bedroom homes decreased by 17.8%, and 5+ bedroom homes decreased by 6.5%.

Median Sold Price Compared To Nearby Counties

Tipton County
+12.6%
Shelby County
-2.4%
Fayette County
-8.4%

Housing Supply in Fayette County, TN

How many homes are available in Fayette County, TN?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
204222+8.8%

Summary: The Fayette County real estate market had 222 homes for sale in April 2024, a 8.8% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 34
+33.3%
2 87
-12.5%
3 6569
+6.2%
4 104116
+11.5%
5+ 2426
+8.3%

Summary: The Fayette County housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes decreased by 12.5%, 3 bedroom homes increased by 6.2%, 4 bedroom homes increased by 11.5%, and 5+ bedroom homes increased by 8.3%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
3137+19.4%

Asking Price vs. Sold Price

18 Homes Were Sold
Under Asking

14 Homes Were Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Fayette County, you may be able to get a good deal. 48.6% of homes here sold below asking price last month.

Summary: A total of 37 homes were sold or pending in Fayette County in April 2024, up by 19.4% month-over-month. Of the 37 sold homes, 49% were sold under asking, 38% were sold at asking, and 14% were sold over asking.

Days on Market for Fayette County, 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 2 Days Ago

Newest Listings in Fayette County, TN

Nearby Markets to Fayette County, TN

What housing markets are near Fayette County, TN?