$4,511 Closing Credit*
$379,900
1,726 SqFt
3 Beds
•2 Full Baths
Dean Nelson, Listing Office: eXp Realty
Is Hermitage, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Hermitage was a Seller's Market.
Key Takeaway
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 Hermitage, TN
How much do homes in Hermitage, TN cost?
Median Sold Price
$424,994
$225/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$14,995(+3.7%)
Key Takeaway
Homes in Hermitage have sold for 3.7% more than they did a year ago.
Summary: The median home sold price in Hermitage was $424,994 in October 2024, up 3.7% from last year, and the median price per square foot was $225.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $218.5K | $189.5K | -13.3% |
| 2 Bedrooms | $320K | $313.5K | -2.0% |
| 3 Bedrooms | $404.3K | $413.3K | +2.2% |
| 4 Bedrooms | $493.5K | $509K | +3.1% |
| 5+ Bedrooms | $515.8K | $527.5K | +2.3% |
Summary: Hermitage housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 13.3%, 2 bedroom homes decreased by 2%, 3 bedroom homes increased by 2.2%, 4 bedroom homes increased by 3.1%, and 5+ bedroom homes increased by 2.3%.
Median Sold Price Compared To Nearby Cities
| Old Hickory | $360.1K | $395K | +9.7% |
| Mount Juliet | $538.2K | $560.3K | +4.1% |
| Hermitage | $409.9K | $424.9K | +3.7% |
| Nashville | $511.4K | $529.8K | +3.6% |
Housing Supply in Hermitage, TN
How many homes are available in Hermitage, TN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 291 | 277 | -4.8% |
Summary: The Hermitage real estate market had 277 homes for sale in October 2024, a 4.8% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 39 | 36 | -7.7% |
| 3 Bedrooms | 159 | 145 | -8.8% |
| 4 Bedrooms | 76 | 77 | +1.3% |
| 5+ Bedrooms | 17 | 18 | +5.9% |
Summary: The Hermitage housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 7.7%, 3 bedroom homes decreased by 8.8%, 4 bedroom homes increased by 1.3%, and 5+ bedroom homes increased by 5.9%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 78 | 41 | -47.4% |
Asking Price vs. Sold Price
24 Homes Were Sold
Under Asking
15 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Hermitage, you may be able to get a good deal. 58.5% of homes here sold below asking price last month.
Summary: A total of 41 homes were sold or pending in Hermitage in October 2024, down by 47.4% month-over-month. Of the 41 sold homes, 59% were sold under asking, 37% were sold at asking, and 5% were sold over asking.
Days on Market for Hermitage, TN
How long does it take to sell a home in Hermitage, TN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 31 Days | 40 Days | +28.2% |
Summary: Homes in Hermitage had an average of 40 days on market in Oct 2024, up by 28.2% compared to last year.
Breakdown of Home Sale Times
26 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Hermitage are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 41 homes were sold in Hermitage; 63% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 17% 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.