$57,900
1.86 Acres
Land
Lucas A Carr, Listing Office: Wally Gilliam Realty & Auction
Is Westmoreland, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Westmoreland has remained a Seller's Market.
Key Takeaway
Westmoreland is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Westmoreland, TN
How much do homes in Westmoreland, TN cost?
Median Sold Price
$310,000
$218/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$17,500(+6.0%)
Key Takeaway
Homes in Westmoreland have sold for 6% more than they did a year ago.
Summary: The median home sold price in Westmoreland was $310,000 in October 2024, up 6% from last year, and the median price per square foot was $218.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $160K | $208.5K | +30.3% |
| 3 Bedrooms | $299.9K | $314.9K | +5.0% |
| 4 Bedrooms | $327K | $283.7K | -13.2% |
| 5+ Bedrooms | $170K | $394.9K | +132.3% |
Summary: Westmoreland housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 30.3%, 3 bedroom homes increased by 5%, 4 bedroom homes decreased by 13.2%, and 5+ bedroom homes increased by 132.3%.
Housing Supply in Westmoreland, TN
How many homes are available in Westmoreland, TN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 39 | 39 | 0.0% |
Summary: The Westmoreland real estate market had 39 homes for sale in October 2024, the same as September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 6 | 6 | 0.0% |
| 3 Bedrooms | 30 | 29 | -3.3% |
| 4 Bedrooms | 3 | 3 | 0.0% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The Westmoreland 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 decreased by 3.3%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 8 | 10 | +25.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Westmoreland, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in Westmoreland in October 2024, up by 25.0% month-over-month. Of the 10 sold homes, 60% were sold under asking, 20% were sold at asking, and 20% were sold over asking.
Days on Market for Westmoreland, TN
How long does it take to sell a home in Westmoreland, TN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 33 Days | 56 Days | +68.4% |
Summary: Homes in Westmoreland had an average of 56 days on market in Oct 2024, up by 68.4% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Westmoreland are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 10 homes were sold in Westmoreland; 60% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 10% 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.