Is Sparta, 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, Sparta was a Seller's Market.
Housing Prices in Sparta, TN
How much do homes in Sparta, TN cost?
Median Sold Price
$265,000
$175/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Sparta was $265,000 in April 2024, up 1.9% from last year, and the median price per square foot was $175.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $201.7K | $165K | -18.2% |
2 Bedrooms | $179K | $191.2K | +6.8% |
3 Bedrooms | $260K | $275K | +5.8% |
4 Bedrooms | $355.4K | $340.9K | -4.1% |
5+ Bedrooms | $502.4K | $409.9K | -18.4% |
Summary: Sparta housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 18.2%, 2 bedroom homes increased by 6.8%, 3 bedroom homes increased by 5.8%, 4 bedroom homes decreased by 4.1%, and 5+ bedroom homes decreased by 18.4%.
Housing Supply in Sparta, TN
How many homes are available in Sparta, TN?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
144 | 163 | +13.2% |
Summary: The Sparta real estate market had 163 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 | 2 | 3 | +50.0% |
2 Bedrooms | 34 | 37 | +8.8% |
3 Bedrooms | 68 | 81 | +19.1% |
4 Bedrooms | 25 | 28 | +12.0% |
5+ Bedrooms | 15 | 14 | -6.7% |
Summary: The Sparta housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 8.8%, 3 bedroom homes increased by 19.1%, 4 bedroom homes increased by 12%, and 5+ bedroom homes decreased by 6.7%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
20 | 16 | -20.0% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 16 homes were sold or pending in Sparta in April 2024, down by 20.0% month-over-month. Of the 16 sold homes, 81% were sold under asking, 0% were sold at asking, and 19% were sold over asking.
Days on Market for Sparta, TN
How long does it take to sell a home in Sparta, TN?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
55 Days | 90 Days | +62.3% |
Summary: Homes in Sparta had an average of 90 days on market in Apr 2024, up by 62.3% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During April 2024, 16 homes were sold in Sparta; 38% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.