Is Palmyra, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Palmyra was a Seller's Market.
Housing Prices in Palmyra, TN
How much do homes in Palmyra, TN cost?
Median Sold Price
$357,500
$178/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Palmyra was $357,500 in March 2024, down 10.6% from last year, and the median price per square foot was $178.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $419.9K | $502.5K | +19.7% |
3 Bedrooms | $379.9K | $307.4K | -19.1% |
4 Bedrooms | $427.4K | $495K | +15.8% |
5+ Bedrooms | $535K | $632.2K | +18.2% |
Summary: Palmyra housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 19.7%, 3 bedroom homes decreased by 19.1%, 4 bedroom homes increased by 15.8%, and 5+ bedroom homes increased by 18.2%.
Median Sold Price Compared To Nearby Cities
Woodlawn | $272.5K | $312.5K | +14.7% |
Palmyra | $400K | $357.5K | -10.6% |
Indian Mound | $352.5K | $245K | -30.5% |
Housing Supply in Palmyra, TN
How many homes are available in Palmyra, TN?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
10 | 11 | +10.0% |
Summary: The Palmyra real estate market had 11 homes for sale in March 2024, a 10.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 1 | 0 | -100.0% |
3 Bedrooms | 8 | 9 | +12.5% |
4 Bedrooms | 1 | 2 | +100.0% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Palmyra housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 100%, 3 bedroom homes increased by 12.5%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
2 | 1 | -50.0% |
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 Palmyra in March 2024, down by 50.0% 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 Palmyra, TN
How long does it take to sell a home in Palmyra, TN?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
15 Days | 84 Days | +438.5% |
Summary: Homes in Palmyra had an average of 84 days on market in Mar 2024, up by 438.5% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 1 homes were sold in Palmyra; 0% of homes were sold within 30 days, 100% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.