Is Donelson / Hermitage, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Donelson / Hermitage has remained a Seller's Market.
Key Takeaway
Donelson / Hermitage is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Donelson / Hermitage, TN
How much do homes in Donelson / Hermitage, TN cost?
Median Sold Price
$396,200
$233/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Donelson / Hermitage have sold for 3% more than they did a year ago.
Summary: The median home sold price in Donelson / Hermitage was $396,200 in May 2024, up 3% from last year, and the median price per square foot was $233.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $240K | $226K | -5.8% |
| 2 Bedrooms | $294.9K | $296.9K | +0.7% |
| 3 Bedrooms | $387.1K | $397K | +2.6% |
| 4 Bedrooms | $516.8K | $512.6K | -0.8% |
| 5+ Bedrooms | $574K | $556K | -3.1% |
Summary: Donelson / Hermitage housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 5.8%, 2 bedroom homes increased by 0.7%, 3 bedroom homes increased by 2.6%, 4 bedroom homes decreased by 0.8%, and 5+ bedroom homes decreased by 3.1%.
Median Sold Price Compared To Nearby Neighborhoods
| Donelson / Hermitage | $384.6K | $396.2K | +3.0% |
| Hermitage Hills | $365K | $375.4K | +2.9% |
Housing Supply in Donelson / Hermitage, TN
How many homes are available in Donelson / Hermitage, TN?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 493 | 542 | +9.9% |
Summary: The Donelson / Hermitage real estate market had 542 homes for sale in May 2024, a 9.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 79 | 79 | 0.0% |
| 3 Bedrooms | 283 | 312 | +10.2% |
| 4 Bedrooms | 102 | 117 | +14.7% |
| 5+ Bedrooms | 27 | 32 | +18.5% |
Summary: The Donelson / Hermitage housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 10.2%, 4 bedroom homes increased by 14.7%, and 5+ bedroom homes increased by 18.5%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 107 | 129 | +20.6% |
Asking Price vs. Sold Price
69 Homes Were Sold
Under Asking
44 Homes Were Sold
At Asking
16 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Donelson / Hermitage, you may be able to get a good deal. 53.5% of homes here sold below asking price last month.
Summary: A total of 129 homes were sold or pending in Donelson / Hermitage in May 2024, up by 20.6% month-over-month. Of the 129 sold homes, 53% were sold under asking, 34% were sold at asking, and 12% were sold over asking.
Days on Market for Donelson / Hermitage, TN
How long does it take to sell a home in Donelson / Hermitage, TN?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 33 Days | 21 Days | -38.0% |
Summary: Homes in Donelson / Hermitage had an average of 21 days on market in May 2024, down by 38% compared to last year.
Breakdown of Home Sale Times
104 Homes Were Sold
Under 30 Days
17 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Donelson / Hermitage are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 129 homes were sold in Donelson / Hermitage; 81% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
Listings courtesy of RealTracs Middle Tennessee Regional MLS as distributed by MLS GRID.
© 2024 of the REALTRACS MLS. All rights Reserved.