Is Petersburg, 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, Petersburg has remained a Neutral Market.
Housing Prices in Petersburg, TN
How much do homes in Petersburg, TN cost?
Median Sold Price
$299,900
$193/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Petersburg was $299,900 in May 2024, up 19.5% 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 | $360K | - | N/A |
2 Bedrooms | $160K | $189.7K | +18.6% |
3 Bedrooms | $243.4K | $279.9K | +15.0% |
4 Bedrooms | $917.5K | $574.9K | -37.3% |
5+ Bedrooms | - | - | N/A |
Summary: Petersburg 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 18.6%, 3 bedroom homes increased by 15%, 4 bedroom homes decreased by 37.3%, and 5+ bedroom homes did not change.
Housing Supply in Petersburg, TN
How many homes are available in Petersburg, TN?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
17 | 20 | +17.6% |
Summary: The Petersburg real estate market had 20 homes for sale in May 2024, a 17.6% increase 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 | 3 | 3 | 0.0% |
3 Bedrooms | 9 | 11 | +22.2% |
4 Bedrooms | 2 | 3 | +50.0% |
5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Petersburg 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 remained the same, 3 bedroom homes increased by 22.2%, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
2 | 3 | +50.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 3 homes were sold or pending in Petersburg in May 2024, up by 50.0% month-over-month. Of the 3 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Petersburg, TN
How long does it take to sell a home in Petersburg, TN?
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 3 homes were sold in Petersburg; 67% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.