Is Monroe, TN 38573 a buyer’s or seller’s market?
Monroe is a balanced market. With about 5.1 months of supply, well-priced homes can still draw more than one offer, but buyers have some room to negotiate.
The Monroe housing market right now
In the three months ending August 31, 2026, 0% of homes in Monroe, TN 38573 sold above their list price, the typical home went under contract in 136 days and there were 5.1 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 5 sales, these figures can swing a lot from month to month.
Compared with the same period a year earlier, the share selling over asking fell from 17%, homes sold more slowly (47 days then) and the median sale price rose 70% to $299,770. Overall, Monroe is less competitive than a year ago, which gives buyers more room.
Within Overton County, homes here sell more slowly than in 67% of the county’s ZIP codes, and sell less often over asking than in any other ZIP code in the county.
Nearby, Rickman 38580 (14% sold over asking) and Livingston 38570 (5% sold over asking) are even more competitive.
Run the numbers for 38573
Nearby markets
Allons 38541Buyer’s market $256 /sq ftAlpine 38543Buyer’s market $147 /sq ftCrawford 38554Buyer’s market $177 /sq ftHilham 38568Buyer’s market $204 /sq ft Browse all markets →Towns like Monroe nearby
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Questions about Monroe real estate
Is Monroe a buyer’s or seller’s market?
A balanced market: there were 5.1 months of supply in Monroe, TN 38573 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 Monroe?
The typical home went under contract in 136 days in the latest three months.
Do homes in Monroe sell over asking?
0% of homes sold above their original list price, and the typical sale closed at 98.6% of the list price.
What are property taxes in Monroe?
About 0.39% of a home’s value a year in Overton County, or roughly $1,560 on a $400,000 home.
What is the median home price in Monroe?
The median sale price was $299,770 in the three months ending August 31, 2026, about $222 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