Statewide, overall home sales in 2024 declined for a third year in a row from a record number of sales in 2021. There were a total of 97,637 homes sold in 2023, compared to 138,305 in 2021, which represented the year with the most homes sold since THDA began receiving these data in 1992. While the quantity of homes sold declined for the third year since 2021, the median price did not. In fact, the median home sale price rose to $353,000 which represents the highest nominal median sales price in state history and accounts for the thirteenth consecutive year of an increase in median home sales price. This increase in home sale price was unevenly distributed by county, such that some counties, more than others, in particular drove this price increase. Nonetheless, almost every county (85 of 95) experienced an increase in the sales price from 2023 to 2024.
2024 Home Sales by County ( .pdf | .xls)
2024 Home Sales by MSA ( .pdf | .xls)
All Home Sales 2013-2024 ( .pdf | .xls)
Existing Home Sales 2013-2024 (.pdf | .xls)
New Home Sales 2013-2024 (.pdf | .xls)
Median and average sales prices of new and existing homes are compiled from actual and up-to-date information pertaining to residential, single-family home sales in these counties for calendar year 2024. These data, collected locally, become part of a comprehensive database maintained by the Division of Property Assessment (Comptroller’s Office, State of Tennessee). This provides us with the opportunity to validate the sales price data in comparison to the assessed values of both the property and the improvement. In addition, information in the database enables us to restrict our analysis to actual arm’s length transactions.
All files include sales volume and median sales price by county or Metropolitan Statistical Area. Additionally, the 2024 Home Sales by County file includes median and average sales price by county, and 2024 Home Sales by MSA includes median and average sales price by MSA.
For your convenience, files are available as Adobe (.pdf) or Excel (.xls) files.
The above statistics are limited to single family homes, residential condos, and Planned Unit Developments (P.U.D.). Many property sales are denoted by the Comptroller’s Office to be not properly reflective of their market value; these tabulations exclude such sales. Those excluded were for a multitude of reasons, examples of which include:
- Very high ratios of sales price to actual assessed value,
- A transaction involving multiple parcels, or
- A non-arm’s length transaction.
The important takeaway here is that the sales statistics published by THDA do not include all transactions involving residential real estate, but rather those sales that reflect the characteristics of a traditional residential home sale on the open market.