Is McMinnville, 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, McMinnville has remained a Seller's Market.
Key Takeaway
McMinnville is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in McMinnville, TN
How much do homes in McMinnville, TN cost?
Median Sold Price
$253,666
$174/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in McMinnville have sold for 5.9% more than they did a year ago.
Summary: The median home sold price in McMinnville was $253,666 in May 2024, up 5.9% from last year, and the median price per square foot was $174.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $86K | $169.9K | +97.6% |
| 2 Bedrooms | $169.9K | $177.5K | +4.5% |
| 3 Bedrooms | $240K | $263.2K | +9.7% |
| 4 Bedrooms | $270K | $284.9K | +5.5% |
| 5+ Bedrooms | $470K | $542.5K | +15.4% |
Summary: McMinnville housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 97.6%, 2 bedroom homes increased by 4.5%, 3 bedroom homes increased by 9.7%, 4 bedroom homes increased by 5.5%, and 5+ bedroom homes increased by 15.4%.
Housing Supply in McMinnville, TN
How many homes are available in McMinnville, TN?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 217 | 230 | +6.0% |
Summary: The McMinnville real estate market had 230 homes for sale in May 2024, a 6.0% 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 | 26 | 24 | -7.7% |
| 3 Bedrooms | 145 | 161 | +11.0% |
| 4 Bedrooms | 41 | 38 | -7.3% |
| 5+ Bedrooms | 3 | 5 | +66.7% |
Summary: The McMinnville 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 decreased by 7.7%, 3 bedroom homes increased by 11%, 4 bedroom homes decreased by 7.3%, and 5+ bedroom homes increased by 66.7%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 40 | 41 | +2.5% |
Asking Price vs. Sold Price
23 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in McMinnville, you may be able to get a good deal. 59% of homes here sold below asking price last month.
Summary: A total of 41 homes were sold or pending in McMinnville in May 2024, up by 2.5% month-over-month. Of the 39 sold homes, 59% were sold under asking, 10% were sold at asking, and 31% were sold over asking.
Days on Market for McMinnville, TN
How long does it take to sell a home in McMinnville, TN?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 46 Days | 33 Days | -28.0% |
Summary: Homes in McMinnville had an average of 33 days on market in May 2024, down by 28% compared to last year.
Breakdown of Home Sale Times
24 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in McMinnville are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 41 homes were sold in McMinnville; 59% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 10% 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. 
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Greater Chattanooga Association of Realtors®. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Copyright© 2024 Greater Chattanooga Association of REALTORS®.
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Knoxville Area Association of REALTORS® Multiple Listing Service. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some or all of the listings may not belong to the firm whose website is being visited. Real estate listings held by brokerage firms other than this broker are indicated by detailed information about them such as the name of the listing firms.