Is Telford, 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, Telford has remained a Seller's Market.
Key Takeaway
Telford is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Telford, TN
How much do homes in Telford, TN cost?
Median Sold Price
$355,000
$184/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Telford have sold for 17.5% more than they did a year ago.
Summary: The median home sold price in Telford was $355,000 in May 2024, up 17.5% from last year, and the median price per square foot was $184.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $180K | N/A |
| 2 Bedrooms | $107K | $153K | +43.0% |
| 3 Bedrooms | $342.4K | $350K | +2.2% |
| 4 Bedrooms | $309.5K | $365K | +17.9% |
| 5+ Bedrooms | $616.8K | $525K | -14.9% |
Summary: Telford 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 increased by 43%, 3 bedroom homes increased by 2.2%, 4 bedroom homes increased by 17.9%, and 5+ bedroom homes decreased by 14.9%.
Median Sold Price Compared To Nearby Cities
| Limestone | $248.5K | $299.9K | +20.7% |
| Telford | $302K | $355K | +17.5% |
Housing Supply in Telford, TN
How many homes are available in Telford, TN?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 17 | 21 | +23.5% |
Summary: The Telford real estate market had 21 homes for sale in May 2024, a 23.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 4 | 2 | -50.0% |
| 3 Bedrooms | 11 | 16 | +45.5% |
| 4 Bedrooms | 1 | 2 | +100.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Telford 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 decreased by 50%, 3 bedroom homes increased by 45.5%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 3 | 5 | +66.7% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Telford, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Telford in May 2024, up by 66.7% month-over-month. Of the 5 sold homes, 60% were sold under asking, 20% were sold at asking, and 20% were sold over asking.
Days on Market for Telford, TN
How long does it take to sell a home in Telford, TN?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 113 Days | 39 Days | -65.6% |
Summary: Homes in Telford had an average of 39 days on market in May 2024, down by 65.6% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Telford has remained consistent over time.
Summary: During May 2024, 5 homes were sold in Telford; 40% of homes were sold within 30 days, 60% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
