$2,991 Closing Credit*
$251,900
1,727 SqFt
4 Beds
•2 Full Baths
Listing Office: Jackson Real Estate & Auction
Is Morristown, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Morristown was a Seller's Market.
Key Takeaway
Morristown 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 Morristown, TN
How much do homes in Morristown, TN cost?
Median Sold Price
$279,000
$162/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$12,358(+4.6%)
Key Takeaway
Homes in Morristown have sold for 4.6% more than they did a year ago.
Summary: The median home sold price in Morristown was $279,000 in November 2024, up 4.6% from last year, and the median price per square foot was $162.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $220K | N/A |
| 2 Bedrooms | $150K | $188K | +25.3% |
| 3 Bedrooms | $262.5K | $275K | +4.8% |
| 4 Bedrooms | $289.9K | $450K | +55.2% |
| 5+ Bedrooms | $331.2K | $349.9K | +5.6% |
Summary: Morristown housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 25.3%, 3 bedroom homes increased by 4.8%, 4 bedroom homes increased by 55.2%, and 5+ bedroom homes increased by 5.6%.
Median Sold Price Compared To Nearby Cities
| Talbott | $285.5K | $304.5K | +6.7% |
| Jefferson City | $295.7K | $312K | +5.5% |
| Morristown | $266.6K | $279K | +4.6% |
Housing Supply in Morristown, TN
How many homes are available in Morristown, TN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 83 | 80 | -3.6% |
Summary: The Morristown real estate market had 80 homes for sale in November 2024, a 3.6% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 11 | 14 | +27.3% |
| 3 Bedrooms | 50 | 47 | -6.0% |
| 4 Bedrooms | 17 | 12 | -29.4% |
| 5+ Bedrooms | 4 | 6 | +50.0% |
Summary: The Morristown 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 increased by 27.3%, 3 bedroom homes decreased by 6%, 4 bedroom homes decreased by 29.4%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 17 | 12 | -29.4% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Morristown, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 12 homes were sold or pending in Morristown in November 2024, down by 29.4% month-over-month. Of the 12 sold homes, 50% were sold under asking, 33% were sold at asking, and 17% were sold over asking.
Days on Market for Morristown, TN
How long does it take to sell a home in Morristown, TN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 49 Days | 32 Days | -35.8% |
Summary: Homes in Morristown had an average of 32 days on market in Nov 2024, down by 35.8% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Morristown has remained consistent over time.
Summary: During November 2024, 12 homes were sold in Morristown; 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.
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Listings courtesy of RealTracs Middle Tennessee Regional MLS as distributed by MLS GRID.
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