$1,360 Closing Credit*
$114,500
3 Beds
•1 Full Bath
Listing Office: Coldwell Banker Collins-Maury
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 Seller'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
$261,125
-
Based on all homes sold in November 2024.
Difference Since Last Month
+$6,480(+2.5%)
Key Takeaway
Homes in Shelby County have sold for 2.5% more than they did a month ago.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $205K | $94.5K | -53.9% |
| 2 Bedrooms | $130K | $151K | +16.2% |
| 3 Bedrooms | $219.4K | $210K | -4.3% |
| 4 Bedrooms | $364.9K | $399K | +9.3% |
| 5+ Bedrooms | $530K | $535K | +0.9% |
Summary: Shelby County housing prices by bedroom type for November 2024 compared to the previous month: The home price of 1 bedroom homes decreased by 53.9%, 2 bedroom homes increased by 16.2%, 3 bedroom homes decreased by 4.3%, 4 bedroom homes increased by 9.3%, and 5+ bedroom homes increased by 0.9%.
Median Sold Price Compared To Nearby Counties
| DeSoto County | $400K | $659.9K | +65.0% |
| Shelby County | $254.6K | $261.1K | +2.5% |
| Tipton County | $276K | $280.5K | +1.6% |
| Fayette County | $404.7K | $352.5K | -12.9% |
Housing Supply in Shelby County, TN
How many homes are available in Shelby County, TN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 3,947 | 4,120 | +4.4% |
Summary: The Shelby County real estate market had 4,120 homes for sale in November 2024, a 4.4% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 51 | 52 | +2.0% |
| 2 Bedrooms | 483 | 524 | +8.5% |
| 3 Bedrooms | 1,716 | 1,799 | +4.8% |
| 4 Bedrooms | 1,155 | 1,206 | +4.4% |
| 5+ Bedrooms | 542 | 539 | -0.6% |
Summary: The Shelby County housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 2%, 2 bedroom homes increased by 8.5%, 3 bedroom homes increased by 4.8%, 4 bedroom homes increased by 4.4%, and 5+ bedroom homes decreased by 0.6%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 728 | 591 | -18.8% |
Asking Price vs. Sold Price
344 Homes Were Sold
Under Asking
172 Homes Were Sold
At Asking
74 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. 58.3% of homes here sold below asking price last month.
Summary: A total of 591 homes were sold or pending in Shelby County in November 2024, down by 18.8% month-over-month. Of the 590 sold homes, 58% were sold under asking, 29% were sold at asking, and 13% 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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Disclaimer: The MLS data is provided exclusively to Participants or Subscribers for display on their website solely for consumers’ personal, non-commercial use, that the MLS data may not be used for any purpose other than to display prospective properties consumers may be interested in purchasing or leasing. Information contained on the computer print-outs of the Multiple Listing Service (MLS) of the HOUSTON REALTORS® INFORMATION SERVICE (HRIS) is furnished by MLS Participants for dissemination to other MLS Participants, for their exclusive use, and should not be relied upon by Buyer/Tenant or any other person. There is no express or implied warranty by HRIS or MLS as to the accuracy of such information, which should be independently verified by Buyer/Tenant or such other person. MLS does not verify the information and disclaims any responsibility for its accuracy. Any estimate of value was prepared using automated processes and should not be considered a comparative market analysis (CMA) or appraisal. You may contact us to provide additional information and analysis for a more accurate estimate of the property's value. Digital images modified or enhanced to alter real property characteristics contain a visible and legible watermark across the bottom of the image “Image does not represent actual property as is”. 
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