Is Cannon County, 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, Cannon County has remained a Seller's Market.
Housing Prices in Cannon County, TN
How much do homes in Cannon County, TN cost?
Median Sold Price
$315,000
$216/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Cannon County was $315,000 in May 2024, up 7.7% from last year, and the median price per square foot was $216.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $158.5K | N/A |
2 Bedrooms | $188.4K | $232.9K | +23.6% |
3 Bedrooms | $300K | $339.9K | +13.3% |
4 Bedrooms | $405.5K | $439.9K | +8.5% |
5+ Bedrooms | $648.5K | $341K | -47.4% |
Summary: Cannon County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 23.6%, 3 bedroom homes increased by 13.3%, 4 bedroom homes increased by 8.5%, and 5+ bedroom homes decreased by 47.4%.
Median Sold Price Compared To Nearby Counties
Cannon County | $292.5K | $315K | +7.7% |
DeKalb County | $270K | $290K | +7.4% |
Coffee County | $285.7K | $300K | +5.0% |
Warren County | $249.9K | $260K | +4.0% |
Rutherford County | $405.1K | $416.7K | +2.9% |
Housing Supply in Cannon County, TN
How many homes are available in Cannon County, TN?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
72 | 72 | 0.0% |
Summary: The Cannon County real estate market had 72 homes for sale in May 2024, the same as April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 0 | -100.0% |
2 Bedrooms | 5 | 5 | 0.0% |
3 Bedrooms | 48 | 53 | +10.4% |
4 Bedrooms | 14 | 10 | -28.6% |
5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The Cannon County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 10.4%, 4 bedroom homes decreased by 28.6%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
16 | 17 | +6.3% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 17 homes were sold or pending in Cannon County in May 2024, up by 6.3% month-over-month. Of the 15 sold homes, 47% were sold under asking, 33% were sold at asking, and 20% were sold over asking.
Days on Market for Cannon County, TN
How long does it take to sell a home in Cannon County, TN?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
28 Days | 25 Days | -10.9% |
Summary: Homes in Cannon County had an average of 25 days on market in May 2024, down by 10.9% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 17 homes were sold in Cannon County; 76% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.