Tennessee

Columbia-area homes for sale steady at $460,000 median price

A typical Maury County home listed for $460,000 in October, flat from the previous month, shows an analysis of data from Realtor.com.

The median list price for homes rose about 15.3% in October from October 2021. The median home in Maury County was 2,144 square feet with a list price of $232 per square foot.

The Maury County market was well attended with an average market duration of 36 days. A month earlier houses were on the market for a median of 36 days. The market added 264 new property listings in October, compared to 236 in October 2021. The market ended the month with around 437 listings of properties for sale.

High interest rates make mortgage payments more expensive. With prevailing mortgage rates down 20%, the mortgage payment for the average Maury County home would cost $2,468 a month, not including insurance, closing fees, homeowners association fees or other costs, according to analysis by the USA TODAY Network. A month earlier, the average home mortgage would have been $2,375. A year earlier, the average home mortgage would have cost $1,370.

Average home prices published by Realtor.com may exclude many or even most homes in a market. The price and volume only represent homes that are single family, condominium or townhouse. They include existing homes but exclude most new construction, pending and conditional sales.

Information about your local housing market is available on the USA TODAY Network, with additional data from Realtor.com.

Across the Nashville metro area, average home prices fell to $525,000, down 0.7% from the previous month. The average home was 2,194 square feet with a list price of $248 per square foot.

Across Tennessee, average home prices were $425,000, similar to the previous month. The average home for sale in Tennessee was 2,085 square feet with a list price of $216 per square foot.

In the United States, median home prices were $425,000, down 0.5% from the previous month. The median American home for sale was 1,876 square feet and cost $218 per square foot.

The median home list price — the median of all homes or units listed over a period of time — is used more often in this report instead of the average home list price because experts say the median offers a more accurate view of what’s happening inside a market. To determine the average price, all the prices of the houses listed are added up and then divided by the number of houses sold. This measure can be distorted by a low or high price.

The USA TODAY Network publishes localized versions of this story on its news sites across the country, compiled using data from Realtor.com’s real estate database. The story was written by Mike Stucka and Sean Lahman.

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