Is Fayette County, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Fayette County is a neutral's market

Buyer's
Market

Difference Since May 2023

At the same time last year, Fayette County was a Seller's Market.

Key Takeaway

Fayette County 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 Fayette County, TN

How much do homes in Fayette County, TN cost?

Median Sold Price

$352,990

$41/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

-$20,810(-5.6%)

Key Takeaway

Homes in Fayette County have sold for 5.6% less than they did a year ago.

Summary: The median home sold price in Fayette County was $352,990 in May 2024, down 5.6% from last year, and the median price per square foot was $41.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 -$282.5K
N/A
2 $520K$226.7K
-56.4%
3 $299.9K$289.9K
-3.4%
4 $395K$374.9K
-5.1%
5+ $472K$445K
-5.7%

Summary: Fayette County 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 decreased by 56.4%, 3 bedroom homes decreased by 3.4%, 4 bedroom homes decreased by 5.1%, and 5+ bedroom homes decreased by 5.7%.

Median Sold Price Compared To Nearby Counties

Hardeman County
+13.3%
Tipton County
+5.1%
Shelby County
-4.4%
Fayette County
-5.6%

Housing Supply in Fayette County, TN

How many homes are available in Fayette County, TN?

Number of Homes For Sale

Apr 2024May 2024CHANGE
236242+2.5%

Summary: The Fayette County real estate market had 242 homes for sale in May 2024, a 2.5% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 44
0.0%
2 77
0.0%
3 6674
+12.1%
4 126123
-2.4%
5+ 3334
+3.0%

Summary: The Fayette County 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 remained the same, 3 bedroom homes increased by 12.1%, 4 bedroom homes decreased by 2.4%, and 5+ bedroom homes increased by 3%.

Number of Homes Sold

Apr 2024May 2024CHANGE
39390.0%

Asking Price vs. Sold Price

17 Homes Were Sold
Under Asking

18 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Fayette County, expect to pay close to the asking price. 46.2% of homes here sold near the asking price last month.

Summary: A total of 39 homes were sold or pending in Fayette County in May 2024, the same as the previous month. Of the 39 sold homes, 44% were sold under asking, 46% were sold at asking, and 10% were sold over asking.

Days on Market for Fayette County, TN

We’re sorry, we don't have information for this market at the moment

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 1 Day Ago

Newest Listings in Fayette County, TN

Nearby Markets to Fayette County, TN

What housing markets are near Fayette County, TN?