Is Sewanee, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Sewanee was a Neutral Market.
Housing Prices in Sewanee, TN
How much do homes in Sewanee, TN cost?
Median Sold Price
$475,000
$255/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Sewanee was $475,000 in May 2024, down 24% from last year, and the median price per square foot was $255.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $634K | N/A |
2 Bedrooms | $312.5K | $583K | +86.6% |
3 Bedrooms | $559.5K | $457K | -18.3% |
4 Bedrooms | $674.9K | $529K | -21.6% |
5+ Bedrooms | $699.9K | - | N/A |
Summary: Sewanee housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 86.6%, 3 bedroom homes decreased by 18.3%, 4 bedroom homes decreased by 21.6%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
Monteagle | $419.9K | $489.9K | +16.7% |
Monteagle | $515.1K | $505.1K | -2.0% |
Sewanee | $625K | $475K | -24.0% |
Housing Supply in Sewanee, TN
How many homes are available in Sewanee, TN?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
26 | 24 | -7.7% |
Summary: The Sewanee real estate market had 24 homes for sale in May 2024, a 7.7% decrease compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 1 | -50.0% |
2 Bedrooms | 2 | 1 | -50.0% |
3 Bedrooms | 11 | 10 | -9.1% |
4 Bedrooms | 8 | 9 | +12.5% |
5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Sewanee housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 50%, 3 bedroom homes decreased by 9.1%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
3 | 2 | -33.3% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 2 homes were sold or pending in Sewanee in May 2024, down by 33.3% month-over-month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Sewanee, TN
How long does it take to sell a home in Sewanee, TN?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
46 Days | 77 Days | +65.6% |
Summary: Homes in Sewanee had an average of 77 days on market in May 2024, up by 65.6% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 2 homes were sold in Sewanee; 0% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.