Is Colonial Acres, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Colonial Acres is a seller's market

Buyer's
Market

Difference Since Last Month

Since last month, Colonial Acres has remained a Seller's Market.

Key Takeaway

Colonial Acres is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Colonial Acres, TN

How much do homes in Colonial Acres, TN cost?

Median Sold Price

$199,900

-

Based on all homes sold in November 2024.

Difference Since Last Month

-$7,600(-3.7%)

Key Takeaway

Homes in Colonial Acres have sold for 3.7% less than they did a month ago.

Median Sold Price By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 --
N/A
2 $145K$268K
+84.8%
3 $219.2K$194.5K
-11.3%
4 $135.9K$220K
+61.9%
5+ --
N/A

Summary: Colonial Acres housing prices by bedroom type for November 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 84.8%, 3 bedroom homes decreased by 11.3%, 4 bedroom homes increased by 61.9%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Neighborhoods

Colonial Acres
-3.7%
Sea Isle Park
-7.4%
Southeast Memphis
-10.2%
University District
-60.1%

Housing Supply in Colonial Acres, TN

How many homes are available in Colonial Acres, TN?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
8785-2.3%

Summary: The Colonial Acres real estate market had 85 homes for sale in November 2024, a 2.3% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 89
+12.5%
3 6764
-4.5%
4 1110
-9.1%
5+ 12
+100.0%

Summary: The Colonial Acres housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 12.5%, 3 bedroom homes decreased by 4.5%, 4 bedroom homes decreased by 9.1%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
2015-25.0%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Colonial Acres, you may be able to get a good deal. 53.3% of homes here sold below asking price last month.

Summary: A total of 15 homes were sold or pending in Colonial Acres in November 2024, down by 25.0% month-over-month. Of the 15 sold homes, 53% were sold under asking, 40% were sold at asking, and 7% were sold over asking.

Days on Market for Colonial Acres, TN

We’re sorry, we don't have information for this market at the moment

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 17 Days Ago

Newest Listings in Colonial Acres, TN

Nearby Markets to Colonial Acres, TN