Is Cumberland County, 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, Cumberland County was a Seller's Market.
Housing Prices in Cumberland County, TN
How much do homes in Cumberland County, TN cost?
Median Sold Price
$317,976
$192/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Cumberland County was $317,976 in May 2024, up 6.2% from last year, and the median price per square foot was $192.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $82.9K | $105K | +26.6% |
2 Bedrooms | $250K | $254.9K | +2.0% |
3 Bedrooms | $314.3K | $340K | +8.2% |
4 Bedrooms | $390K | $420.5K | +7.8% |
5+ Bedrooms | $580K | $505K | -12.9% |
Summary: Cumberland County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 26.6%, 2 bedroom homes increased by 2%, 3 bedroom homes increased by 8.2%, 4 bedroom homes increased by 7.8%, and 5+ bedroom homes decreased by 12.9%.
Median Sold Price Compared To Nearby Counties
Morgan County | $210K | $240K | +14.3% |
Roane County | $235K | $260K | +10.6% |
White County | $250K | $275K | +10.0% |
Fentress County | $239.4K | $255.5K | +6.7% |
Cumberland County | $299.5K | $317.9K | +6.2% |
Housing Supply in Cumberland County, TN
How many homes are available in Cumberland County, TN?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
538 | 573 | +6.5% |
Summary: The Cumberland County real estate market had 573 homes for sale in May 2024, a 6.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 15 | 20 | +33.3% |
2 Bedrooms | 154 | 150 | -2.6% |
3 Bedrooms | 314 | 337 | +7.3% |
4 Bedrooms | 47 | 54 | +14.9% |
5+ Bedrooms | 8 | 12 | +50.0% |
Summary: The Cumberland County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes decreased by 2.6%, 3 bedroom homes increased by 7.3%, 4 bedroom homes increased by 14.9%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
93 | 78 | -16.1% |
Asking Price vs. Sold Price
53 Homes Were Sold
Under Asking
20 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 78 homes were sold or pending in Cumberland County in May 2024, down by 16.1% month-over-month. Of the 78 sold homes, 68% were sold under asking, 26% were sold at asking, and 6% were sold over asking.
Days on Market for Cumberland County, TN
How long does it take to sell a home in Cumberland County, TN?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
59 Days | 47 Days | -19.0% |
Summary: Homes in Cumberland County had an average of 47 days on market in May 2024, down by 19% compared to last year.
Breakdown of Home Sale Times
42 Homes Were Sold
Under 30 Days
21 Homes Were Sold
In 30 - 90 Days
11 Homes Were Sold
Over 90 Days
Summary: During May 2024, 78 homes were sold in Cumberland County; 54% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.