Is Shelbyville, 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, Shelbyville has remained a Seller's Market.
Key Takeaway
Shelbyville is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Shelbyville, TN
How much do homes in Shelbyville, TN cost?
Median Sold Price
$309,592
$200/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Shelbyville have sold for 6.3% more than they did a year ago.
Summary: The median home sold price in Shelbyville was $309,592 in May 2024, up 6.3% from last year, and the median price per square foot was $200.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $81K | $329.9K | +307.3% |
| 2 Bedrooms | $210K | $235K | +11.9% |
| 3 Bedrooms | $292.2K | $305K | +4.4% |
| 4 Bedrooms | $353.4K | $350K | -1.0% |
| 5+ Bedrooms | $395K | $341K | -13.7% |
Summary: Shelbyville housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 307.3%, 2 bedroom homes increased by 11.9%, 3 bedroom homes increased by 4.4%, 4 bedroom homes decreased by 1%, and 5+ bedroom homes decreased by 13.7%.
Housing Supply in Shelbyville, TN
How many homes are available in Shelbyville, TN?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 208 | 205 | -1.4% |
Summary: The Shelbyville real estate market had 205 homes for sale in May 2024, a 1.4% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 27 | 26 | -3.7% |
| 3 Bedrooms | 145 | 141 | -2.8% |
| 4 Bedrooms | 31 | 33 | +6.5% |
| 5+ Bedrooms | 3 | 4 | +33.3% |
Summary: The Shelbyville housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 3.7%, 3 bedroom homes decreased by 2.8%, 4 bedroom homes increased by 6.5%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 50 | 40 | -20.0% |
Asking Price vs. Sold Price
19 Homes Were Sold
Under Asking
14 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Shelbyville, you may be able to get a good deal. 48.7% of homes here sold below asking price last month.
Summary: A total of 40 homes were sold or pending in Shelbyville in May 2024, down by 20.0% month-over-month. Of the 39 sold homes, 49% were sold under asking, 36% were sold at asking, and 15% were sold over asking.
Days on Market for Shelbyville, TN
How long does it take to sell a home in Shelbyville, TN?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 43 Days | 29 Days | -31.5% |
Summary: Homes in Shelbyville had an average of 29 days on market in May 2024, down by 31.5% compared to last year.
Breakdown of Home Sale Times
28 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Shelbyville are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 40 homes were sold in Shelbyville; 70% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 13% 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.