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.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
|Median List Price||$229,900|
|Per Square Foot||$129|
|Days on Market||35|
|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.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$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|