Bryan Realty

Somerville, TN 38068

Single-Family Homes

Market Report / michael@bryanrealty.com



Somerville, TN 38068

Fri Apr 23 2021
This week the median list price for Somerville, TN 38068 is $229,900 with the market action index hovering around 55. This is an increase over last month's market action index of 50. Inventory has held steady at or around 11. 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

In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.

Somerville, TN 38068

Fri Apr 23 2021
This week the median list price for Somerville, TN 38068 is $229,900 with the market action index hovering around 55. This is an increase over last month's market action index of 50. Inventory has held steady at or around 11. 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

In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.

Real-Time Market Profile

Never miss important changes in the Somerville market.
Median List Price $229,900
Per Square Foot $129
Days on Market 35
Price Decreased 18%
Price Increased 18%
Relisted 0%
Inventory 11
Median Rent $1,695
Most Expensive $799,000
Least Expensive $135,000
Market Action 55
Strong Seller's Market

Recently prices in this zip have settled at a plateau even though they dipped this week. Look for a persistent up-shift in the Market Action Index before we see prices significantly move from these levels.

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
$717,000 3,299 N/A 4 3 26 0 0 150
$325,000 2,499 1 - 2.5 acres 4 3 17 1 0 7
$229,900 1,899 6,500 - 8,000 sqft 4 2 1 3 1 84
$219,900 1,699 4,500 - 6,500 sqft 4 2 0 2 1 0