$79,900
0.70 Acres
Land
Steve Jernigan, Listing Office: Steve Jernigan Realty
Is Manchester, 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, Manchester was a Seller's Market.
Key Takeaway
Manchester 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 Manchester, TN
How much do homes in Manchester, TN cost?
Median Sold Price
$321,900
$194/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$17,566(+5.8%)
Key Takeaway
Homes in Manchester have sold for 5.8% more than they did a year ago.
Summary: The median home sold price in Manchester was $321,900 in October 2024, up 5.8% from last year, and the median price per square foot was $194.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $239.9K | $193.5K | -19.3% |
| 3 Bedrooms | $298.9K | $320K | +7.1% |
| 4 Bedrooms | $422.5K | $369K | -12.7% |
| 5+ Bedrooms | $355K | $407.5K | +14.8% |
Summary: Manchester housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 19.3%, 3 bedroom homes increased by 7.1%, 4 bedroom homes decreased by 12.7%, and 5+ bedroom homes increased by 14.8%.
Housing Supply in Manchester, TN
How many homes are available in Manchester, TN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 170 | 198 | +16.5% |
Summary: The Manchester real estate market had 198 homes for sale in October 2024, a 16.5% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 9 | 6 | -33.3% |
| 3 Bedrooms | 132 | 159 | +20.5% |
| 4 Bedrooms | 23 | 27 | +17.4% |
| 5+ Bedrooms | 6 | 6 | 0.0% |
Summary: The Manchester 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 33.3%, 3 bedroom homes increased by 20.5%, 4 bedroom homes increased by 17.4%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 30 | 30 | 0.0% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
14 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Manchester, expect to pay close to the asking price. 48.3% of homes here sold near the asking price last month.
Summary: A total of 30 homes were sold or pending in Manchester in October 2024, the same as the previous month. Of the 29 sold homes, 34% were sold under asking, 48% were sold at asking, and 17% were sold over asking.
Days on Market for Manchester, TN
How long does it take to sell a home in Manchester, TN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 24 Days | 32 Days | +29.7% |
Summary: Homes in Manchester had an average of 32 days on market in Oct 2024, up by 29.7% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Manchester are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 30 homes were sold in Manchester; 63% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 10% 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.