Thu Mar 23 2023
This week the median list price for Somerville, TN 38068 is $345,990 with the market action index hovering around 28. This is about the same as last month's market action index of 28. Inventory has decreased to 30.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Buyer's Advantage
|Median List Price||$345,990|
|Median Price of New Listings||$675,000|
|Per Square Foot||$162|
|Average Days on Market||119|
|Median Days on Market||119|
|Slight Buyer's Advantage|
We continue to see prices in this zip code bouncing around this plateau. Look for a persistent up-shift in the Market Action Index before we see prices 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|
|$1,100,000||3,299||10 - 20 acres||4||3.5||26||1||0||154|
|$365,000||2,299||5 - 10 acres||4||2.5||16||0||0||105|
|$299,945||1,899||1 - 2.5 acres||4||2||12||0||0||105|