Is Shelby County, 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, Shelby County was a Buyer's Market.
Housing Prices in Shelby County, TN
How much do homes in Shelby County, TN cost?
Median Sold Price
$264,455
$139/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Shelby County was $264,455 in April 2024, down 2.4% from last year, and the median price per square foot was $139.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $97K | $138K | +42.3% |
2 Bedrooms | $128.7K | $143.1K | +11.2% |
3 Bedrooms | $223.9K | $210.2K | -6.1% |
4 Bedrooms | $378.9K | $369.6K | -2.5% |
5+ Bedrooms | $542.1K | $560.3K | +3.4% |
Summary: Shelby County housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 42.3%, 2 bedroom homes increased by 11.2%, 3 bedroom homes decreased by 6.1%, 4 bedroom homes decreased by 2.5%, and 5+ bedroom homes increased by 3.4%.
Median Sold Price Compared To Nearby Counties
Tipton County | $260K | $292.7K | +12.6% |
Shelby County | $270.8K | $264.4K | -2.4% |
Fayette County | $382.7K | $350.6K | -8.4% |
Housing Supply in Shelby County, TN
How many homes are available in Shelby County, TN?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
3,840 | 4,348 | +13.2% |
Summary: The Shelby County real estate market had 4,348 homes for sale in April 2024, a 13.2% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 43 | 57 | +32.6% |
2 Bedrooms | 475 | 533 | +12.2% |
3 Bedrooms | 1,748 | 1,931 | +10.5% |
4 Bedrooms | 1,102 | 1,247 | +13.2% |
5+ Bedrooms | 472 | 580 | +22.9% |
Summary: The Shelby County housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 32.6%, 2 bedroom homes increased by 12.2%, 3 bedroom homes increased by 10.5%, 4 bedroom homes increased by 13.2%, and 5+ bedroom homes increased by 22.9%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
739 | 763 | +3.2% |
Asking Price vs. Sold Price
395 Homes Were Sold
Under Asking
218 Homes Were Sold
At Asking
148 Homes Were Sold
Over Asking
Summary: A total of 763 homes were sold or pending in Shelby County in April 2024, up by 3.2% month-over-month. Of the 761 sold homes, 52% were sold under asking, 29% were sold at asking, and 19% were sold over asking.
Days on Market for Shelby County, TN
How long does it take to sell a home in Shelby County, TN?
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 763 homes were sold in Shelby County; 0% 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.