Is Watertown, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Watertown was a Seller's Market.
Key Takeaway
Watertown is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Watertown, TN
How much do homes in Watertown, TN cost?
Median Sold Price
$472,400
$238/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Watertown have sold for 20.4% more than they did a year ago.
Summary: The median home sold price in Watertown was $472,400 in May 2024, up 20.4% from last year, and the median price per square foot was $238.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $125K | - | N/A |
| 2 Bedrooms | $200.9K | $360K | +79.1% |
| 3 Bedrooms | $378K | $453.7K | +20.0% |
| 4 Bedrooms | $650K | $704K | +8.3% |
| 5+ Bedrooms | $358K | $875K | +144.4% |
Summary: Watertown 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 79.1%, 3 bedroom homes increased by 20%, 4 bedroom homes increased by 8.3%, and 5+ bedroom homes increased by 144.4%.
Housing Supply in Watertown, TN
How many homes are available in Watertown, TN?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 31 | 32 | +3.2% |
Summary: The Watertown real estate market had 32 homes for sale in May 2024, a 3.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 5 | 3 | -40.0% |
| 3 Bedrooms | 22 | 23 | +4.5% |
| 4 Bedrooms | 4 | 4 | 0.0% |
| 5+ Bedrooms | 0 | 2 | +100.0% |
Summary: The Watertown 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 40%, 3 bedroom homes increased by 4.5%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 7 | 5 | -28.6% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
4 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Watertown, expect to pay close to the asking price. 80% of homes here sold near the asking price last month.
Summary: A total of 5 homes were sold or pending in Watertown in May 2024, down by 28.6% month-over-month. Of the 5 sold homes, 20% were sold under asking, 80% were sold at asking, and 0% were sold over asking.
Days on Market for Watertown, TN
How long does it take to sell a home in Watertown, TN?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 25 Days | 43 Days | +71.9% |
Summary: Homes in Watertown had an average of 43 days on market in May 2024, up by 71.9% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Watertown are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 5 homes were sold in Watertown; 40% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 20% 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.