Is Petersburg, TN 37144 a buyer’s or seller’s market?
Petersburg is a balanced market. With about 6 months of supply, well-priced homes can still draw more than one offer, but buyers have some room to negotiate.
The Petersburg housing market right now
In the three months ending August 31, 2026, 0% of homes in Petersburg, TN 37144 sold above their list price, the typical home went under contract in 56 days and there were 6 months of supply. Four to six months of supply is a balanced market, where pricing and condition decide how much room there is to negotiate. With only 9 sales, these figures can swing a lot from month to month.
Compared with the same period a year earlier, the share selling over asking was about the same (0% then), homes sold faster (95 days then) and the median sale price fell 10% to $271,383. Overall, Petersburg is more competitive than a year ago, so tougher for buyers.
Within Lincoln County, homes here sell faster than in 88% of the county’s ZIP codes, and sell less often over asking than in any other ZIP code in the county.
Nearby, Ardmore 38449 (25% sold over asking) and Elora 37328 (20% sold over asking) are even more competitive.
Run the numbers for 37144
Nearby markets
Ardmore 38449Buyer’s market $173 /sq ftDellrose 38453Seller’s market $814 /sq ftElora 37328Seller’s market $189 /sq ftFayetteville 37334Balanced $167 /sq ft Browse all markets →Towns like Petersburg nearby
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Questions about Petersburg real estate
Is Petersburg a buyer’s or seller’s market?
A balanced market: there were 6 months of supply in Petersburg, TN 37144 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.
How fast do homes sell in Petersburg?
The typical home went under contract in 56 days in the latest three months.
Do homes in Petersburg sell over asking?
0% of homes sold above their original list price, and the typical sale closed at 95.4% of the list price.
What are property taxes in Petersburg?
About 0.45% of a home’s value a year in Lincoln County, or roughly $1,800 on a $400,000 home.
What is the median home price in Petersburg?
The median sale price was $271,383 in the three months ending August 31, 2026, about $193 per square foot.
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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology