$75,000
9.80 Acres
Land
Tammy Herrin, Listing Office: Synergy Realty Network, LLC
Is Summertown, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Summertown was a Buyer's Market.
Key Takeaway
Summertown is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Summertown, TN
How much do homes in Summertown, TN cost?
Median Sold Price
$355,000
$213/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$29,500(+9.1%)
Key Takeaway
Homes in Summertown have sold for 9.1% more than they did a year ago.
Summary: The median home sold price in Summertown was $355,000 in November 2024, up 9.1% from last year, and the median price per square foot was $213.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $260K | - | N/A |
| 2 Bedrooms | $249.7K | $329K | +31.7% |
| 3 Bedrooms | $370K | $360K | -2.7% |
| 4 Bedrooms | $287K | $512K | +78.4% |
| 5+ Bedrooms | - | $515K | N/A |
Summary: Summertown housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 31.7%, 3 bedroom homes decreased by 2.7%, 4 bedroom homes increased by 78.4%, and 5+ bedroom homes did not change.
Housing Supply in Summertown, TN
How many homes are available in Summertown, TN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 40 | 41 | +2.5% |
Summary: The Summertown real estate market had 41 homes for sale in November 2024, a 2.5% 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 | 6 | 5 | -16.7% |
| 3 Bedrooms | 28 | 31 | +10.7% |
| 4 Bedrooms | 3 | 3 | 0.0% |
| 5+ Bedrooms | 3 | 2 | -33.3% |
Summary: The Summertown 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 decreased by 16.7%, 3 bedroom homes increased by 10.7%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 6 | 7 | +16.7% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Summertown, expect to pay close to the asking price. 42.9% of homes here sold near the asking price last month.
Summary: A total of 7 homes were sold or pending in Summertown in November 2024, up by 16.7% month-over-month. Of the 7 sold homes, 29% were sold under asking, 43% were sold at asking, and 29% were sold over asking.
Days on Market for Summertown, TN
How long does it take to sell a home in Summertown, TN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 22 Days | 49 Days | +118.1% |
Summary: Homes in Summertown had an average of 49 days on market in Nov 2024, up by 118.1% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Summertown are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 7 homes were sold in Summertown; 57% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
Listings courtesy of RealTracs Middle Tennessee Regional MLS as distributed by MLS GRID.
© 2024 of the REALTRACS MLS. All rights Reserved.