Is Monterey, 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, Monterey has remained a Seller's Market.
Housing Prices in Monterey, TN
How much do homes in Monterey, TN cost?
Median Sold Price
$322,450
$193/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Monterey was $322,450 in May 2024, down 22.3% from last year, and the median price per square foot was $193.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $319.9K | N/A |
2 Bedrooms | $328K | $230K | -29.9% |
3 Bedrooms | $415K | $439.9K | +6.0% |
4 Bedrooms | $255K | $592.5K | +132.4% |
5+ Bedrooms | $470K | $250K | -46.8% |
Summary: Monterey 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 decreased by 29.9%, 3 bedroom homes increased by 6%, 4 bedroom homes increased by 132.4%, and 5+ bedroom homes decreased by 46.8%.
Housing Supply in Monterey, TN
How many homes are available in Monterey, TN?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
42 | 39 | -7.1% |
Summary: The Monterey real estate market had 39 homes for sale in May 2024, a 7.1% decrease compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 6 | 7 | +16.7% |
3 Bedrooms | 24 | 23 | -4.2% |
4 Bedrooms | 8 | 6 | -25.0% |
5+ Bedrooms | 3 | 2 | -33.3% |
Summary: The Monterey 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 increased by 16.7%, 3 bedroom homes decreased by 4.2%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
9 | 9 | 0.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 9 homes were sold or pending in Monterey in May 2024, the same as the previous month. Of the 9 sold homes, 56% were sold under asking, 11% were sold at asking, and 33% were sold over asking.
Days on Market for Monterey, TN
How long does it take to sell a home in Monterey, TN?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
41 Days | 69 Days | +68.4% |
Summary: Homes in Monterey had an average of 69 days on market in May 2024, up by 68.4% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 9 homes were sold in Monterey; 33% of homes were sold within 30 days, 44% of homes were sold within 30 to 90 days, and 22% of homes were sold over 90 days.