Mon Dec 11 2023
This week the median list price for Somerville, TN 38068 is $339,899 with the market action index hovering around 33. This is less than last month's market action index of 36. Inventory has increased to 28.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
|Median List Price||$339,899|
|Median Price of New Listings||$429,900|
|Per Square Foot||$165|
|Average Days on Market||71|
|Median Days on Market||56|
|Slight Seller's Advantage|
Prices in this zip code have been on a downward trend recently and this week, while essentially flat, doesn't break us out of that cycle.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$629,900||2,600||5 - 10 acres||4||3||15||2||0||77|
|$364,900||2,200||0.25 - 0.5 acre||4||2.5||0||0||1||42|
|$320,990||2,000||0.25 - 0.5 acre||3||2||16||0||1||49|
|$225,000||1,200||0.25 - 0.5 acre||3||2||28||1||0||49|