Is Mercer, TN 38392 a buyer’s or seller’s market?
Mercer is a balanced market. With about 4.8 months of supply, well-priced homes can still draw more than one offer, but buyers have some room to negotiate.
The Mercer housing market right now
In the three months ending August 31, 2026, 0% of homes in Mercer, TN 38392 sold above their list price, the typical home went under contract in 36 days and there were 4.8 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 2 sales, these figures can swing a lot from month to month.
Within Madison County, homes here sell faster than in 63% of the county’s ZIP codes, and sell less often over asking than in any other ZIP code in the county.
Nearby, Beech Bluff 38313 (33% sold over asking) and Oakfield 38362 (20% sold over asking) are even more competitive.
Run the numbers for 38392
Nearby markets
Beech Bluff 38313Seller’s market $158 /sq ftDenmark 38391Buyer’s market $164 /sq ftJackson 38301Seller’s market $128 /sq ftJackson 38305Seller’s market $157 /sq ft Browse all markets →Where Mercer is
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Questions about Mercer real estate
Is Mercer a buyer’s or seller’s market?
A balanced market: there were 4.8 months of supply in Mercer, TN 38392 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 Mercer?
The typical home went under contract in 36 days in the latest three months.
Do homes in Mercer sell over asking?
0% of homes sold above their original list price, and the typical sale closed at 97.2% of the list price.
What are property taxes in Mercer?
About 0.56% of a home’s value a year in Madison County, or roughly $2,240 on a $400,000 home.
What is the median home price in Mercer?
The median sale price was $302,369 in the three months ending August 31, 2026, about $101 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