Is Southeast, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Southeast has remained a Seller's Market.
Housing Prices in Southeast, TN
How much do homes in Southeast, TN cost?
Median Sold Price
$454,781
$245/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Southeast was $454,781 in April 2024, up 1.1% from last year, and the median price per square foot was $245.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $190K | $172K | -9.5% |
2 Bedrooms | $299.9K | $303.7K | +1.3% |
3 Bedrooms | $443.7K | $449.9K | +1.4% |
4 Bedrooms | $560K | $577K | +3.0% |
5+ Bedrooms | $685.5K | $640K | -6.6% |
Summary: Southeast housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 9.5%, 2 bedroom homes increased by 1.3%, 3 bedroom homes increased by 1.4%, 4 bedroom homes increased by 3%, and 5+ bedroom homes decreased by 6.6%.
Median Sold Price Compared To Nearby Neighborhoods
Southeast | $449.9K | $454.7K | +1.1% |
Lennox Village | $381K | $370K | -2.9% |
Housing Supply in Southeast, TN
How many homes are available in Southeast, TN?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
548 | 575 | +4.9% |
Summary: The Southeast real estate market had 575 homes for sale in April 2024, a 4.9% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 8 | 10 | +25.0% |
2 Bedrooms | 106 | 129 | +21.7% |
3 Bedrooms | 269 | 270 | 0.4% |
4 Bedrooms | 132 | 135 | +2.3% |
5+ Bedrooms | 33 | 31 | -6.1% |
Summary: The Southeast housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25%, 2 bedroom homes increased by 21.7%, 3 bedroom homes increased by 0.4%, 4 bedroom homes increased by 2.3%, and 5+ bedroom homes decreased by 6.1%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
131 | 142 | +8.4% |
Asking Price vs. Sold Price
73 Homes Were Sold
Under Asking
42 Homes Were Sold
At Asking
25 Homes Were Sold
Over Asking
Summary: A total of 142 homes were sold or pending in Southeast in April 2024, up by 8.4% month-over-month. Of the 140 sold homes, 52% were sold under asking, 30% were sold at asking, and 18% were sold over asking.
Days on Market for Southeast, TN
How long does it take to sell a home in Southeast, TN?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
21 Days | 23 Days | +12.6% |
Summary: Homes in Southeast had an average of 23 days on market in Apr 2024, up by 12.6% compared to last year.
Breakdown of Home Sale Times
101 Homes Were Sold
Under 30 Days
31 Homes Were Sold
In 30 - 90 Days
9 Homes Were Sold
Over 90 Days
Summary: During April 2024, 142 homes were sold in Southeast; 71% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.