Bryan Realty

Somerville, TN 38068

Single-Family Homes

Market Report / michael@bryanrealty.com



Somerville, TN 38068

Tue Aug 09 2022
This week the median list price for Somerville, TN 38068 is $479,900 with the market action index hovering around 46. This is less than last month's market action index of 47. Inventory has decreased to 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 and prices have recently resumed upward pressure.

Somerville, TN 38068

Tue Aug 09 2022
This week the median list price for Somerville, TN 38068 is $479,900 with the market action index hovering around 46. This is less than last month's market action index of 47. Inventory has decreased to 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 and prices have recently resumed upward pressure.

Real-Time Market Profile

Never miss important changes in the Somerville market.
Median List Price $479,900
Median Price of New Listings $483,300
Per Square Foot $167
Average Days on Market 40
Median Days on Market 28
Price Decreased 18%
Price Increased 9%
Relisted 0%
Inventory 11
Median Rent
Market Action 46
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
$2,400,000 2,999 N/A 3 2.3 81 0 0 38
$499,000 3,299 1 - 2.5 acres 3 3.5 10 1 1 21
$299,900 1,499 1 - 2.5 acres 3 2 22 1 1 14
$90,000 1,099 5 - 10 acres 3 1 50 0 0 98