$2,611 Closing Credit*
$219,900
3 Beds
•2 Full Baths
Listing Office: Enterprise, REALTORS
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
$304,900
-
Based on all homes sold in October 2024.
Difference Since Last Month
-$35,095(-10.3%)
Key Takeaway
Homes in Somerville have sold for 10.3% less than they did a month ago.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | $345.9K | $210K | -39.3% |
| 4 Bedrooms | $253.9K | $354.9K | +39.7% |
| 5+ Bedrooms | - | $307K | N/A |
Summary: Somerville housing prices by bedroom type for October 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 decreased by 39.3%, 4 bedroom homes increased by 39.7%, and 5+ bedroom homes did not change.
Housing Supply in Somerville, TN
How many homes are available in Somerville, TN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 35 | 45 | +28.6% |
Summary: The Somerville real estate market had 45 homes for sale in October 2024, a 28.6% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 11 | 17 | +54.5% |
| 4 Bedrooms | 20 | 21 | +5.0% |
| 5+ Bedrooms | 3 | 6 | +100.0% |
Summary: The Somerville housing inventory by bedroom type for October 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 54.5%, 4 bedroom homes increased by 5%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 4 | 5 | +25.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Somerville, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Somerville in October 2024, up by 25.0% month-over-month. Of the 5 sold homes, 60% were sold under asking, 20% were sold at asking, and 20% were sold over asking.
Days on Market for Somerville, TN
We’re sorry, we don't have information for this market at the moment
