$2,363 Closing Credit*
$199,000
3 Beds
•1 Full Bath
Listing Office: Fayette Realty, LLC
Is Somerville, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Somerville has remained a Buyer's Market.
Key Takeaway
Somerville is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Somerville, TN
How much do homes in Somerville, TN cost?
Median Sold Price
$335,000
-
Based on all homes sold in November 2024.
Difference Since Last Month
+$30,100(+9.9%)
Key Takeaway
Homes in Somerville have sold for 9.9% more than they did a month ago.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | $210K | - | N/A |
| 4 Bedrooms | $354.9K | $320K | -9.8% |
| 5+ Bedrooms | $307K | $530K | +72.6% |
Summary: Somerville housing prices by bedroom type for November 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes did not change, 4 bedroom homes decreased by 9.8%, and 5+ bedroom homes increased by 72.6%.
Housing Supply in Somerville, TN
How many homes are available in Somerville, TN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 50 | 56 | +12.0% |
Summary: The Somerville real estate market had 56 homes for sale in November 2024, a 12.0% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 21 | 27 | +28.6% |
| 4 Bedrooms | 22 | 23 | +4.5% |
| 5+ Bedrooms | 6 | 5 | -16.7% |
Summary: The Somerville 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 remained the same, 3 bedroom homes increased by 28.6%, 4 bedroom homes increased by 4.5%, and 5+ bedroom homes decreased by 16.7%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 5 | 3 | -40.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Somerville, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Somerville in November 2024, down by 40.0% month-over-month. Of the 3 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Somerville, TN
We’re sorry, we don't have information for this market at the moment
