Thu Sep 16 2021
This week the median list price for Somerville, TN 38068 is $319,750 with the market action index hovering around 59. This is less than last month's market action index of 63. Inventory has increased to 10.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
|Median List Price||$319,750|
|Median Price of New Listings||$399,500|
|Per Square Foot||$129|
|Average Days on Market||40|
|Median Days on Market||21|
|Strong Seller's Market|
We continue to see prices in this zip code hovering around these current levels, even though they bumped up a bit this week. Look for a persistent up-shift in the Market Action Index before we see prices move significantly from here.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$717,500||4,124||10 - 20 acres||4||3||35||0||1||14|
|$599,500||3,674||10 - 20 acres||4||3||40||0||1||24|
|$240,000||1,899||5 - 10 acres||3||2||14||1||1||21|
|$239,900||1,899||0.25 - 0.5 acre||4||2||0||0||1||21|