Bryan Realty

Somerville, TN 38068

Single-Family Homes

Market Report / michael@bryanrealty.com



Somerville, TN 38068

Tue Mar 02 2021
This week the median list price for Somerville, TN 38068 is $625,000 with the market action index hovering around 57. This is less than last month's market action index of 58. Inventory has held steady at or around 5. Click here to stay informed with the Somerville market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Strong Seller's Market

The market has not shown strong directional trends in terms of supply and demand. However, inventory is sufficiently low to keep us in the Seller’s Market zone and prices have been moving upward as evidence.

Somerville, TN 38068

Tue Mar 02 2021
This week the median list price for Somerville, TN 38068 is $625,000 with the market action index hovering around 57. This is less than last month's market action index of 58. Inventory has held steady at or around 5. Click here to stay informed with the Somerville market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Strong Seller's Market

The market has not shown strong directional trends in terms of supply and demand. However, inventory is sufficiently low to keep us in the Seller’s Market zone and prices have been moving upward as evidence.

Real-Time Market Profile

Never miss important changes in the Somerville market.
Median List Price $625,000
Per Square Foot $240
Days on Market 91
Price Decreased 40%
Price Increased 20%
Relisted 0%
Inventory 5
Median Rent $1,695
Most Expensive $975,000
Least Expensive $364,000
Market Action 57
Strong Seller's Market

The market for this zip code continues its bounce again this week. We're a long way from the market's high point so watch the Market Action Index to predict how long this trend will last.

Market Segments

Each segment below represents approximately 25% of the market ordered by price.

Median Price Sq. Ft. Lot Size Beds Bath Age New Absorbed DOM
$975,000 3,899 N/A 4 4 40 0 0 35
$650,000 2,699 N/A 4 3 12 0 0 168
$625,000 2,499 N/A 4 3 31 0 0 91
$382,000 2,699 2.5 - 5 acres 4 4 15 0 1 91