When Is the Best Time to Sell a House in Tennessee?

By 

Jamie Ayers

Updated 

March 24th, 2020

SHARE

If you're thinking of selling your Tennessee home in 2020, here are the best (and worst) times of year to do it, by the numbers.

Updated March 24, 2020

When selling a home in Tennessee, timing isn't everything; however, it can certainly influence how long it takes and the price you're ultimately able to get.

If you have some flexibility with your sale, it's worth doing some market research to boost your chances of getting the best outcome possible.

The best month to sell a house in Tennessee is June. Tennessee homes sold in June sell 7 days faster and for $12,917 more than the respective annual averages.

Of course, this is just a small piece of the overall picture. Below, we've compiled some of the most important data to consider before deciding when to sell your Tennessee home, including monthly inventory, sale prices, sale-to-list ratios, days on market, and more.

The best time of year to sell a house in Tennessee

Determining the “right” time to sell your house is somewhat subjective, as it really depends on your specific goals and circumstances. That said, if you're like most sellers — i.e., your top priorities are selling high and fast — here's when you should list your Tennessee house.

Best month to sell a home in TennesseeTypical sale price premiumDays sold faster than average
June$12,9177 days

Source: Redfin Data Center, Jan-Dec 2019

Importantly, these trends can vary from region to region. The table below shows the most lucrative months to sell for four major cities in Tennessee.

CityBest month to sellTypical sale price premiumDays sold faster than average
NashvilleJune$14,0834.67
MemphisJuly$21,1672.42
KnoxvilleNovember$14,0003.00
ClarksvilleJuly$9,8335.08

Source: Redfin Data Center, Jan-Dec 2018

Tennessee real estate market trends

Zooming back out to the national level, housing market activity — that is, the number of active listings and sales — is cyclical, peaking in late spring and hitting its annual low towards the end of the year.

Active listings and volume of home sales since 2016

Source: Realtor.com, Jul 2016-Feb 2020

As you can see above, the overall volume of pending sales — which is a good gauge of buyer demand — reliably spikes in May. So is listing in late spring always going to be the best move? Not necessarily.

That corresponding spike in inventory (number of active listings) also means more competition. Depending on factors like your property's age, condition, location, etc., this could actually make it more difficult and/or expensive to sell.

Moreover, these trends vary considerably on state, regional, and local levels. To provide a more comprehensive picture of seasonal housing market trends in Tennessee, we've compiled some of the most important data points below, along with some simple definitions and advice.

Quick Tip: The right time to sell can even vary by neighborhood. And the best local advice is free!

The best time to sell isn’t just based on broader, constantly changing economic factors (interest rates, job growth, financial markets, etc.). It depends on micro-level, local market activity too. If you want advice on the best time to sell in your area specifically, talk to an experienced real estate agent who works there.

Enter your basic info below to connect with local top realtors. It’s your chance to get free advice on when to sell, tips for getting your home market-ready, and a professional pricing consultation.

BONUS: Our service is 100% free. And there’s never any obligation to sign with any agent you talk to. But if you do decide to work with an agent you meet, you’ll also get a reduced commission rate exclusive to Clever home sellers!

Median sale price in Tennessee by month

Month with highest median sale priceMedian sale pricePremium over annual average
June$266,000$12,917

Source: Redfin Data Center, Jan 2019-Dec 2019

Median sale prices can help you understand when home sale prices for Tennessee homes are typically at their annual high and low. When you zoom out and look at median sale prices over the course of a larger span of time — say, several years — it can also indicate broader trends, like home value appreciation and increasing buyer demand. The graph below shows median sale price trends in Tennessee during 2019.

MonthMedian sale price in Tennessee
January$231,000
February$234,000
March$245,000
April$246,000
May$258,000
June$266,000
July$262,000
August$261,000
September$254,000
October$256,000
November$258,000
December$266,000
Annual average sale price in Tennessee$253,083

Source: Redfin Data Center, Jan 2019-Dec 2019

Median sale-to-list ratio by in Tennessee month

Month with highest sale-to-list ratioSale-to-list ratioAverage annual sale-to-list ratio
June98.60%98.13%

Source: Redfin Data Center, Jan 2019-Dec 2019

>> MORE: Strike quick on a hot market with a faster way to sell your home for top dollar.

Sale-to-list ratio is a home's final sale price divided by its list price, typically expressed as a percentage. If the number is above

100%, that means the home sold for more than its initial list price. Conversely, numbers below 100% mean the home sold for less than asking price.

When you look at the median sale-to-list ratio across a given market, it helps illustrate the degree of competition or demand among buyers in that area. This can tell you a lot about current market conditions — i.e., whether it's a buyers or sellers market — and give you a sense of how much leverage you'll have when it comes to offers and negotiations.

MonthMedian sale-to-list ratio in Tennessee
January97.40%
February97.80%
March98.00%
April98.30%
May98.40%
June98.60%
July98.50%
August98.30%
September98.20%
October98.00%
November98.00%
December98.10%
Average annual sale-to-list ratio in Tennessee98.13%

Source: Redfin Data Center, Jan 2019-Dec 2019

Median days on market (DOM) in Tennessee by month

Fastest month to sell in TennesseeMedian DOMDays sold faster than average
June52 days7 days

Source: Redfin Data Center, Jan 2019-Dec 2019

Days on market — or DOM — is commonly defined as the number of days from when a property is officially listed on a multiple listing service (MLS) and a sales contract is signed.

When a market has a low median DOM, that's usually an indicator of favorable conditions for sellers, i.e., a high demand among buyers. Conversely, a higher median DOM signifies low demand, meaning less favorable conditions for sellers. Remember, seasonality can be a big factor, particularly in regions with bigger weather swings throughout the year. Moreover, demand can vary considerably from neighborhood to neighborhood. Talk to your realtor for an accurate read on current — or seasonal — market conditions in your area, specifically.

MonthMedian days on market in Tennessee
January74 days
February76 days
March62 days
April56 days
May54 days
June52 days
July53 days
August54 days
September56 days
October55 days
November59 days
December61 days
Annual average DOM in Tennessee59 days

Source: Redfin Data Center, Jan 2019-Dec 2019

When should you sell your Tennessee home?

Sometimes life changes — expected or not — can require selling during a slower month or time of year. That's ok! The most important factor in deciding when to sell your house is you. Consider your own needs, financial situation, and timeline above everything else.

If your reason for selling is relatively flexible — say, you're looking for a bigger house or more convenient neighborhood — it might be worth trying to time your sale; however, waiting for peak market conditions isn't worth missing, say, a great job opportunity or putting off an important life goal, like retirement.

Still not sure when to sell? Don't wait. Ask questions now!

Our Clever Concierge Team is here to help you figure out when to sell your home, how to see your sale go smoothly, and how you can profit most from the transaction.

Every member of our Concierge Team is a licensed real estate agent and an expert in their own right — having also worked with hundreds of local realtors in markets across the country.  As always, our service and advice are both 100% free! Any question, any issue, we've got you. 

Call now at 1-833-2-CLEVER or connect with us below.