Is Fayette 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, Fayette County was a Seller's Market.
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
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
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $282.5K | N/A |
2 Bedrooms | $520K | $226.7K | -56.4% |
3 Bedrooms | $299.9K | $289.9K | -3.4% |
4 Bedrooms | $395K | $374.9K | -5.1% |
5+ Bedrooms | $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 | $165.5K | $187.5K | +13.3% |
Tipton County | $275.9K | $289.9K | +5.1% |
Shelby County | $274.8K | $262.7K | -4.4% |
Fayette County | $373.8K | $352.9K | -5.6% |
Housing Supply in Fayette County, TN
How many homes are available in Fayette County, TN?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
236 | 242 | +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
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 4 | 0.0% |
2 Bedrooms | 7 | 7 | 0.0% |
3 Bedrooms | 66 | 74 | +12.1% |
4 Bedrooms | 126 | 123 | -2.4% |
5+ Bedrooms | 33 | 34 | +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 2024 | May 2024 | CHANGE |
---|---|---|
39 | 39 | 0.0% |
Asking Price vs. Sold Price
17 Homes Were Sold
Under Asking
18 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
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