Is Smith 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, Smith County was a Seller's Market.
Housing Prices in Smith County, TN
How much do homes in Smith County, TN cost?
Median Sold Price
$299,900
$189/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Smith County was $299,900 in May 2024, up 2.8% from last year, and the median price per square foot was $189.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $156.4K | $269.9K | +72.5% |
2 Bedrooms | $203K | $229.9K | +13.3% |
3 Bedrooms | $315K | $299.9K | -4.8% |
4 Bedrooms | $329K | $359K | +9.1% |
5+ Bedrooms | $341.9K | $520K | +52.1% |
Summary: Smith County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 72.5%, 2 bedroom homes increased by 13.3%, 3 bedroom homes decreased by 4.8%, 4 bedroom homes increased by 9.1%, and 5+ bedroom homes increased by 52.1%.
Median Sold Price Compared To Nearby Counties
Jackson County | $195K | $249.9K | +28.2% |
Trousdale County | $300K | $334.9K | +11.6% |
DeKalb County | $270K | $290K | +7.4% |
Smith County | $291.8K | $299.9K | +2.8% |
Macon County | $259.4K | $260K | 0.2% |
Housing Supply in Smith County, TN
How many homes are available in Smith County, TN?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
99 | 110 | +11.1% |
Summary: The Smith County real estate market had 110 homes for sale in May 2024, a 11.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 4 | +100.0% |
2 Bedrooms | 17 | 13 | -23.5% |
3 Bedrooms | 62 | 70 | +12.9% |
4 Bedrooms | 14 | 15 | +7.1% |
5+ Bedrooms | 4 | 8 | +100.0% |
Summary: The Smith County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 23.5%, 3 bedroom homes increased by 12.9%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
19 | 12 | -36.8% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 12 homes were sold or pending in Smith County in May 2024, down by 36.8% month-over-month. Of the 11 sold homes, 36% were sold under asking, 36% were sold at asking, and 27% were sold over asking.
Days on Market for Smith County, TN
How long does it take to sell a home in Smith County, TN?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
63 Days | 26 Days | -58.9% |
Summary: Homes in Smith County had an average of 26 days on market in May 2024, down by 58.9% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 12 homes were sold in Smith County; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.