Is Wayne 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, Wayne County was a Seller's Market.
Key Takeaway
Wayne County is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Wayne County, TN
How much do homes in Wayne County, TN cost?
Median Sold Price
$180,000
$137/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Wayne County have sold for 15.3% less than they did a year ago.
Summary: The median home sold price in Wayne County was $180,000 in May 2024, down 15.3% from last year, and the median price per square foot was $137.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $54.4K | $120K | +120.6% |
| 2 Bedrooms | $113.7K | $180K | +58.2% |
| 3 Bedrooms | $225K | $176.2K | -21.7% |
| 4 Bedrooms | $390K | $209K | -46.4% |
| 5+ Bedrooms | $458.5K | $296K | -35.4% |
Summary: Wayne County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 120.6%, 2 bedroom homes increased by 58.2%, 3 bedroom homes decreased by 21.7%, 4 bedroom homes decreased by 46.4%, and 5+ bedroom homes decreased by 35.4%.
Median Sold Price Compared To Nearby Counties
| Perry County | $180K | $237.5K | +31.9% |
| Lawrence County | $250K | $268.5K | +7.4% |
| Lewis County | $245K | $251.5K | +2.7% |
| Hardin County | $265K | $239K | -9.8% |
| Wayne County | $212.5K | $180K | -15.3% |
Housing Supply in Wayne County, TN
How many homes are available in Wayne County, TN?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 49 | 55 | +12.2% |
Summary: The Wayne County real estate market had 55 homes for sale in May 2024, a 12.2% 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 | 12 | 13 | +8.3% |
| 3 Bedrooms | 21 | 26 | +23.8% |
| 4 Bedrooms | 5 | 5 | 0.0% |
| 5+ Bedrooms | 7 | 7 | 0.0% |
Summary: The Wayne 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 increased by 8.3%, 3 bedroom homes increased by 23.8%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 3 | 4 | +33.3% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Wayne County, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Wayne County in May 2024, up by 33.3% month-over-month. Of the 4 sold homes, 75% were sold under asking, 25% were sold at asking, and 0% were sold over asking.
Days on Market for Wayne County, TN
How long does it take to sell a home in Wayne County, TN?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 32 Days | 46 Days | +41.5% |
Summary: Homes in Wayne County had an average of 46 days on market in May 2024, up by 41.5% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Wayne County are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 4 homes were sold in Wayne County; 25% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 25% 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.