Is Donelson / Hermitage, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Donelson / Hermitage is a neutral's market

Buyer's
Market

Difference Since October 2023

At the same time last year, Donelson / Hermitage was a Seller's Market.

Key Takeaway

Donelson / Hermitage is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Donelson / Hermitage, TN

How much do homes in Donelson / Hermitage, TN cost?

Median Sold Price

$403,054

$236/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$23,092(+6.1%)

Key Takeaway

Homes in Donelson / Hermitage have sold for 6.1% more than they did a year ago.

Summary: The median home sold price in Donelson / Hermitage was $403,054 in October 2024, up 6.1% from last year, and the median price per square foot was $236.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $228.5K$192.5K
-15.8%
2 $295.1K$296.9K
+0.6%
3 $383.3K$400K
+4.4%
4 $500K$516K
+3.2%
5+ $529.9K$550K
+3.8%

Summary: Donelson / Hermitage housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 15.8%, 2 bedroom homes increased by 0.6%, 3 bedroom homes increased by 4.4%, 4 bedroom homes increased by 3.2%, and 5+ bedroom homes increased by 3.8%.

Median Sold Price Compared To Nearby Neighborhoods

Hermitage Hills
+6.4%
Donelson / Hermitage
+6.1%

Housing Supply in Donelson / Hermitage, TN

How many homes are available in Donelson / Hermitage, TN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
563578+2.7%

Summary: The Donelson / Hermitage real estate market had 578 homes for sale in October 2024, a 2.7% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 44
0.0%
2 8584
-1.2%
3 322316
-1.9%
4 123139
+13.0%
5+ 2935
+20.7%

Summary: The Donelson / Hermitage 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 decreased by 1.2%, 3 bedroom homes decreased by 1.9%, 4 bedroom homes increased by 13%, and 5+ bedroom homes increased by 20.7%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
13290-31.8%

Asking Price vs. Sold Price

49 Homes Were Sold
Under Asking

27 Homes Were Sold
At Asking

14 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Donelson / Hermitage, you may be able to get a good deal. 54.4% of homes here sold below asking price last month.

Summary: A total of 90 homes were sold or pending in Donelson / Hermitage in October 2024, down by 31.8% month-over-month. Of the 90 sold homes, 54% were sold under asking, 30% were sold at asking, and 16% were sold over asking.

Days on Market for Donelson / Hermitage, TN

How long does it take to sell a home in Donelson / Hermitage, TN?

Average Sale Time

Oct 2023Oct 2024CHANGE
25 Days29 Days+18.9%

Summary: Homes in Donelson / Hermitage had an average of 29 days on market in Oct 2024, up by 18.9% compared to last year.

Breakdown of Home Sale Times

63 Homes Were Sold
Under 30 Days

19 Homes Were Sold
In 30 - 90 Days

8 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Donelson / Hermitage are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 90 homes were sold in Donelson / Hermitage; 70% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 9% 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 21 Days Ago

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Newest Listings in Donelson / Hermitage, TN

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MLS Disclaimers and Copyright

Based on information from RealTracs Middle Tennessee Regional MLS for the period 11/01/2022 - 11/01/2024

IDX Listings courtesy of RealTracs Middle Tennessee Regional MLS as distributed by MLS GRID.

All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

IDX© 2024 of the REALTRACS MLS. All rights Reserved.

The data relating to this real estate for sale on this websites comes in part courtesy of the IDX program of the REALTRACS MLS. Real estate listings held by brokerage firms other than this broker are marked with the REALTRACS IDX Logo. REALTRACS and this broker deem all information reliable but not guaranteed, and should be independently verified. REALTRACS and this broker assume no responsibility for typographical errors, misprints or misinformation.

REALTRACS, this broker and their affiliates provide the MLS and all content therein “AS IS” and without any warranty, express or implied. The information included in this listing is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 11/21/2024, 7:18:48 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

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