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 November 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

$409,535

$236/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$29,463(+7.8%)

Key Takeaway

Homes in Donelson / Hermitage have sold for 7.8% more than they did a year ago.

Summary: The median home sold price in Donelson / Hermitage was $409,535 in November 2024, up 7.8% from last year, and the median price per square foot was $236.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $230K$190K
-17.4%
2 $296.9K$298K
0.4%
3 $384K$405K
+5.5%
4 $503.3K$515.6K
+2.4%
5+ $527.8K$549.9K
+4.2%

Summary: Donelson / Hermitage housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 17.4%, 2 bedroom homes increased by 0.4%, 3 bedroom homes increased by 5.5%, 4 bedroom homes increased by 2.4%, and 5+ bedroom homes increased by 4.2%.

Median Sold Price Compared To Nearby Neighborhoods

Donelson / Hermitage
+7.8%
Hermitage Hills
+4.9%

Housing Supply in Donelson / Hermitage, TN

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

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
550594+8.0%

Summary: The Donelson / Hermitage real estate market had 594 homes for sale in November 2024, a 8.0% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 44
0.0%
2 8181
0.0%
3 298324
+8.7%
4 135147
+8.9%
5+ 3238
+18.8%

Summary: The Donelson / Hermitage 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 remained the same, 3 bedroom homes increased by 8.7%, 4 bedroom homes increased by 8.9%, and 5+ bedroom homes increased by 18.8%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
9895-3.1%

Asking Price vs. Sold Price

47 Homes Were Sold
Under Asking

33 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. 50% of homes here sold below asking price last month.

Summary: A total of 95 homes were sold or pending in Donelson / Hermitage in November 2024, down by 3.1% month-over-month. Of the 94 sold homes, 50% were sold under asking, 35% were sold at asking, and 15% 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

Nov 2023Nov 2024CHANGE
31 Days31 Days0.2%

Summary: Homes in Donelson / Hermitage had an average of 31 days on market in Nov 2024, up by 0.2% compared to last year.

Breakdown of Home Sale Times

66 Homes Were Sold
Under 30 Days

20 Homes Were Sold
In 30 - 90 Days

9 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 November 2024, 95 homes were sold in Donelson / Hermitage; 69% 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 30 Days Ago

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MLS Disclaimers and Copyright

Based on information from RealTracs Middle Tennessee Regional MLS for the period 12/01/2022 - 12/01/2024

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: 12/31/2024, 10:18:50 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

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