Is Hermitage, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Hermitage has remained a Seller's Market.
Key Takeaway
Hermitage is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Hermitage, TN
How much do homes in Hermitage, TN cost?
Median Sold Price
$416,000
$221/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
The sold price of homes in Hermitage has remained the same since last year.
Summary: The median home sold price in Hermitage was $416,000 in April 2024, up 0.3% from last year, and the median price per square foot was $221.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $210K | $208.5K | -0.7% |
| 2 Bedrooms | $320K | $308.2K | -3.7% |
| 3 Bedrooms | $405K | $410K | +1.2% |
| 4 Bedrooms | $508.7K | $485K | -4.7% |
| 5+ Bedrooms | $550K | $527.3K | -4.1% |
Summary: Hermitage housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 0.7%, 2 bedroom homes decreased by 3.7%, 3 bedroom homes increased by 1.2%, 4 bedroom homes decreased by 4.7%, and 5+ bedroom homes decreased by 4.1%.
Median Sold Price Compared To Nearby Cities
| Nashville | $518K | $529.3K | +2.2% |
| Mount Juliet | $540.8K | $549.9K | +1.7% |
| Old Hickory | $377.7K | $379.9K | +0.6% |
| Hermitage | $414.5K | $416K | 0.3% |
Housing Supply in Hermitage, TN
How many homes are available in Hermitage, TN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 200 | 216 | +8.0% |
Summary: The Hermitage real estate market had 216 homes for sale in April 2024, a 8.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 28 | 31 | +10.7% |
| 3 Bedrooms | 119 | 125 | +5.0% |
| 4 Bedrooms | 45 | 49 | +8.9% |
| 5+ Bedrooms | 8 | 10 | +25.0% |
Summary: The Hermitage housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 10.7%, 3 bedroom homes increased by 5%, 4 bedroom homes increased by 8.9%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 46 | 53 | +15.2% |
Asking Price vs. Sold Price
30 Homes Were Sold
Under Asking
12 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Hermitage, you may be able to get a good deal. 56.6% of homes here sold below asking price last month.
Summary: A total of 53 homes were sold or pending in Hermitage in April 2024, up by 15.2% month-over-month. Of the 53 sold homes, 57% were sold under asking, 23% were sold at asking, and 21% were sold over asking.
Days on Market for Hermitage, TN
How long does it take to sell a home in Hermitage, TN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 42 Days | 26 Days | -37.3% |
Summary: Homes in Hermitage had an average of 26 days on market in Apr 2024, down by 37.3% compared to last year.
Breakdown of Home Sale Times
41 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Hermitage are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 53 homes were sold in Hermitage; 77% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 8% 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.