Is Murfreesboro, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Murfreesboro has remained a Seller's Market.
Key Takeaway
Murfreesboro is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Murfreesboro, TN
How much do homes in Murfreesboro, TN cost?
Median Sold Price
$419,999
$210/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Murfreesboro have sold for 2.4% more than they did a year ago.
Summary: The median home sold price in Murfreesboro was $419,999 in May 2024, up 2.4% from last year, and the median price per square foot was $210.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $133K | $164K | +23.3% |
| 2 Bedrooms | $279.4K | $280K | 0.2% |
| 3 Bedrooms | $375.1K | $389.9K | +4.0% |
| 4 Bedrooms | $513K | $521.3K | +1.6% |
| 5+ Bedrooms | $598.5K | $610K | +1.9% |
Summary: Murfreesboro housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 23.3%, 2 bedroom homes increased by 0.2%, 3 bedroom homes increased by 4%, 4 bedroom homes increased by 1.6%, and 5+ bedroom homes increased by 1.9%.
Housing Supply in Murfreesboro, TN
How many homes are available in Murfreesboro, TN?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 1,068 | 1,131 | +5.9% |
Summary: The Murfreesboro real estate market had 1,131 homes for sale in May 2024, a 5.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 3 | +50.0% |
| 2 Bedrooms | 117 | 108 | -7.7% |
| 3 Bedrooms | 505 | 532 | +5.3% |
| 4 Bedrooms | 360 | 399 | +10.8% |
| 5+ Bedrooms | 84 | 89 | +6.0% |
Summary: The Murfreesboro housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes decreased by 7.7%, 3 bedroom homes increased by 5.3%, 4 bedroom homes increased by 10.8%, and 5+ bedroom homes increased by 6%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 254 | 296 | +16.5% |
Asking Price vs. Sold Price
112 Homes Were Sold
Under Asking
127 Homes Were Sold
At Asking
45 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Murfreesboro, expect to pay close to the asking price. 44.7% of homes here sold near the asking price last month.
Summary: A total of 296 homes were sold or pending in Murfreesboro in May 2024, up by 16.5% month-over-month. Of the 284 sold homes, 39% were sold under asking, 45% were sold at asking, and 16% were sold over asking.
Days on Market for Murfreesboro, TN
How long does it take to sell a home in Murfreesboro, TN?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 33 Days | 19 Days | -41.3% |
Summary: Homes in Murfreesboro had an average of 19 days on market in May 2024, down by 41.3% compared to last year.
Breakdown of Home Sale Times
230 Homes Were Sold
Under 30 Days
52 Homes Were Sold
In 30 - 90 Days
12 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Murfreesboro are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 296 homes were sold in Murfreesboro; 78% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 4% 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. 
Disclaimer: All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Listings displayed are the property of the Western Kentucky Regional MLS (WKMLS) and provided here for consumer's personal, non-commercial use, and may not be used for any purposes other than to identify prospective properties consumers may be interested in purchasing. Each potential buyer is responsible for conducting his or her own independent inspections,investigations, measurements, inquiries and due diligence concerning the property. Although all information contained herein is believed to be accurate, the Real Estate Broker and the Seller of the property make no warranty or guarantee, actual or implied. Copyright 2024 Western Kentucky Regional MLS, Inc.