Executive Summary
- Overall Median Price: The median home price in Anderson County was $296,500 in August, up 1.1% from July but down 5.9% from the previous year.
- Segment Performance: Single-family home prices dipped slightly month-over-month, while condo and townhome prices surged 39.7% from July but remained down year-over-year.
- Sales Volume: The number of recorded sales in the county fell by 26.5% compared to the same month in the prior year, dropping from 117 to 86 transactions.
- Statewide Context: Across Tennessee, the median home price was $334,921 in August, reflecting a 2.6% decrease from the previous month and a slight drop in year-over-year sales.
The median home sale price in Anderson County reached $296,500 in August, marking a 1.1% increase from the previous month, according to an analysis of the latest data from Realtor.com. However, this figure represents a 5.9% decrease from the $315,000 median price recorded in August of the prior year, indicating a cooler market compared to twelve months ago.
Market Segment Breakdown
The single-family home market saw a slight dip month-over-month, with the median selling price at $290,000 in August compared to $292,450 in July. Year-over-year, the median price for single-family homes fell 6.4% from $309,900. In contrast, the condominium and townhome segment experienced a significant monthly surge, with the median sale price increasing 39.7% to $427,000 in August from $305,750 in July. Despite this monthly gain, the segment’s median price was down 11.4% from $482,000 a year earlier.
Sales Volume and Statewide Trends
Transaction volume in Anderson County saw a notable decline. The number of recorded home sales dropped to 86 in August, a 26.5% decrease from the 117 sales recorded in the same month last year. The total value of all residential sales in the county for the month was $31 million. Statewide, the Tennessee housing market also showed signs of cooling. The median home price across the state was $334,921 in August, down 2.6% from July. The total number of sales in Tennessee decreased by 1.2% year-over-year.
Key Takeaways
While Anderson County’s housing market saw a modest month-over-month price increase in August, the broader trend points toward a market adjustment. Significant year-over-year decreases in both median prices and sales volume suggest that market conditions have softened considerably compared to the previous year, a pattern also reflected at the state level.
