Is Burns, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Burns was a Seller's Market.
Key Takeaway
Burns is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Burns, TN
How much do homes in Burns, TN cost?
Median Sold Price
$399,900
$220/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Burns have sold for 4.8% less than they did a year ago.
Summary: The median home sold price in Burns was $399,900 in May 2024, down 4.8% from last year, and the median price per square foot was $220.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $265K | $322.5K | +21.7% |
| 3 Bedrooms | $415K | $380K | -8.4% |
| 4 Bedrooms | $452K | $571.5K | +26.4% |
| 5+ Bedrooms | - | - | N/A |
Summary: Burns housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 21.7%, 3 bedroom homes decreased by 8.4%, 4 bedroom homes increased by 26.4%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Dickson | $312.8K | $349.9K | +11.9% |
| Burns | $420K | $399.9K | -4.8% |
Housing Supply in Burns, TN
How many homes are available in Burns, TN?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 43 | 42 | -2.3% |
Summary: The Burns real estate market had 42 homes for sale in May 2024, a 2.3% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 4 | 3 | -25.0% |
| 3 Bedrooms | 28 | 25 | -10.7% |
| 4 Bedrooms | 9 | 12 | +33.3% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Burns housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 25%, 3 bedroom homes decreased by 10.7%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 16 | 6 | -62.5% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
3 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Burns, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 6 homes were sold or pending in Burns in May 2024, down by 62.5% month-over-month. Of the 6 sold homes, 17% were sold under asking, 50% were sold at asking, and 33% were sold over asking.
Days on Market for Burns, TN
How long does it take to sell a home in Burns, TN?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 16 Days | 35 Days | +114.0% |
Summary: Homes in Burns had an average of 35 days on market in May 2024, up by 114% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Burns are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 6 homes were sold in Burns; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Listings courtesy of RealTracs Middle Tennessee Regional MLS as distributed by MLS GRID.
© 2024 of the REALTRACS MLS. All rights Reserved.