Is McMinnville, 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, McMinnville was a Seller's Market.
Housing Prices in McMinnville, TN
How much do homes in McMinnville, TN cost?
Median Sold Price
$252,666
$173/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in McMinnville was $252,666 in April 2024, up 7.5% from last year, and the median price per square foot was $173.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $117.5K | $169.9K | +44.6% |
2 Bedrooms | $160.5K | $180K | +12.1% |
3 Bedrooms | $238.7K | $260K | +8.9% |
4 Bedrooms | $295K | $282.2K | -4.3% |
5+ Bedrooms | $507.4K | $510K | 0.5% |
Summary: McMinnville housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 44.6%, 2 bedroom homes increased by 12.1%, 3 bedroom homes increased by 8.9%, 4 bedroom homes decreased by 4.3%, and 5+ bedroom homes increased by 0.5%.
Housing Supply in McMinnville, TN
How many homes are available in McMinnville, TN?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
197 | 218 | +10.7% |
Summary: The McMinnville real estate market had 218 homes for sale in April 2024, a 10.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 2 | 0.0% |
2 Bedrooms | 20 | 26 | +30.0% |
3 Bedrooms | 136 | 149 | +9.6% |
4 Bedrooms | 32 | 36 | +12.5% |
5+ Bedrooms | 7 | 5 | -28.6% |
Summary: The McMinnville 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 30%, 3 bedroom homes increased by 9.6%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes decreased by 28.6%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
36 | 36 | 0.0% |
Asking Price vs. Sold Price
17 Homes Were Sold
Under Asking
12 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Summary: A total of 36 homes were sold or pending in McMinnville in April 2024, the same as the previous month. Of the 36 sold homes, 47% were sold under asking, 33% were sold at asking, and 19% were sold over asking.
Days on Market for McMinnville, TN
How long does it take to sell a home in McMinnville, TN?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
69 Days | 69 Days | -1.1% |
Summary: Homes in McMinnville had an average of 69 days on market in Apr 2024, down by 1.1% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
9 Homes Were Sold
Over 90 Days
Summary: During April 2024, 36 homes were sold in McMinnville; 44% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.