Is Cumberland Homesteads, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Cumberland Homesteads is a seller's market

Buyer's
Market

Difference Since Last Month

Last month, Cumberland Homesteads was a Buyer's Market.

Key Takeaway

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

Housing Prices in Cumberland Homesteads, TN

How much do homes in Cumberland Homesteads, TN cost?

Median Sold Price

$275,000

$215/sqft

Based on all homes sold in October 2024.

Difference Since Last Month

+$21,000(+8.3%)

Key Takeaway

Homes in Cumberland Homesteads have sold for 8.3% more than they did a month ago.

Summary: The median home sold price in Cumberland Homesteads was $275,000 in October 2024, up 8.3% from last month, and the median price per square foot was $215.

Median Sold Price By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 --
N/A
2 --
N/A
3 $254K$275K
+8.3%
4 --
N/A
5+ --
N/A

Summary: Cumberland Homesteads housing prices by bedroom type for October 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 8.3%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Housing Supply in Cumberland Homesteads, TN

How many homes are available in Cumberland Homesteads, TN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
1517+13.3%

Summary: The Cumberland Homesteads real estate market had 17 homes for sale in October 2024, a 13.3% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 00
0.0%
3 1415
+7.1%
4 12
+100.0%
5+ 00
0.0%

Summary: The Cumberland Homesteads housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 7.1%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
23+50.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Cumberland Homesteads, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 3 homes were sold or pending in Cumberland Homesteads in October 2024, up by 50.0% month-over-month. Of the 3 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for Cumberland Homesteads, TN

How long does it take to sell a home in Cumberland Homesteads, TN?

Average Sale Time

Sep 2024Oct 2024CHANGE
7 Days30 Days+300.0%

Summary: Homes in Cumberland Homesteads had an average of 30 days on market in Oct 2024, up by 300% compared to last month.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Cumberland Homesteads has remained consistent over time.

Summary: During October 2024, 3 homes were sold in Cumberland Homesteads; 33% of homes were sold within 30 days, 67% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

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

Report Updated 22 Days Ago

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