$1,223 Closing Credit*
$103,000
3 Beds
•2 Full Baths
Listing Office: Crye-Leike, Inc., REALTORS
Is Shelby County, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Shelby County was a Buyer's Market.
Key Takeaway
Shelby County 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 Shelby County, TN
How much do homes in Shelby County, TN cost?
Median Sold Price
$258,257
-
Based on all homes sold in October 2024.
Difference Since Last Month
-$9,242(-3.5%)
Key Takeaway
Homes in Shelby County have sold for 3.5% less than they did a month ago.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $200.5K | $151K | -24.7% |
| 2 Bedrooms | $126.7K | $140K | +10.5% |
| 3 Bedrooms | $225K | $221.5K | -1.6% |
| 4 Bedrooms | $340K | $370K | +8.8% |
| 5+ Bedrooms | $555K | $547.5K | -1.4% |
Summary: Shelby County housing prices by bedroom type for October 2024 compared to the previous month: The home price of 1 bedroom homes decreased by 24.7%, 2 bedroom homes increased by 10.5%, 3 bedroom homes decreased by 1.6%, 4 bedroom homes increased by 8.8%, and 5+ bedroom homes decreased by 1.4%.
Median Sold Price Compared To Nearby Counties
| DeSoto County | $317.9K | $415K | +30.5% |
| Shelby County | $267.5K | $258.2K | -3.5% |
| Tipton County | $300K | $279.9K | -6.7% |
Housing Supply in Shelby County, TN
How many homes are available in Shelby County, TN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 3,243 | 3,926 | +21.1% |
Summary: The Shelby County real estate market had 3,926 homes for sale in October 2024, a 21.1% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 39 | 44 | +12.8% |
| 2 Bedrooms | 365 | 466 | +27.7% |
| 3 Bedrooms | 1,390 | 1,715 | +23.4% |
| 4 Bedrooms | 973 | 1,152 | +18.4% |
| 5+ Bedrooms | 476 | 549 | +15.3% |
Summary: The Shelby County housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 12.8%, 2 bedroom homes increased by 27.7%, 3 bedroom homes increased by 23.4%, 4 bedroom homes increased by 18.4%, and 5+ bedroom homes increased by 15.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 379 | 635 | +67.5% |
Asking Price vs. Sold Price
377 Homes Were Sold
Under Asking
170 Homes Were Sold
At Asking
87 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Shelby County, you may be able to get a good deal. 59.5% of homes here sold below asking price last month.
Summary: A total of 635 homes were sold or pending in Shelby County in October 2024, up by 67.5% month-over-month. Of the 634 sold homes, 59% were sold under asking, 27% were sold at asking, and 14% were sold over asking.
Days on Market for Shelby County, TN
We’re sorry, we don't have information for this market at the moment
Listings courtesy of RealTracs Middle Tennessee Regional MLS as distributed by MLS GRID.
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The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Knoxville Area Association of REALTORS® Multiple Listing Service. IDX information 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. Some or all of the listings may not belong to the firm whose website is being visited. Real estate listings held by brokerage firms other than this broker are indicated by detailed information about them such as the name of the listing firms.