Is Monterey, TN 38574 a buyer’s or seller’s market?

The Monterey housing market right now

In the three months ending August 31, 2026, 12% of homes in Monterey, TN 38574 sold above their list price, the typical home went under contract in 103 days and there were 9.2 months of supply. More than six months of supply favors buyers, who usually have more time and more room to negotiate. That’s based on 27 home sales.

Compared with the same period a year earlier, the share selling over asking rose from 4%, homes sold more slowly (85 days then) and the median sale price rose 10% to $418,319. Overall, Monterey is about as competitive as it was a year ago.

Within Putnam County, homes here sell more slowly than in any other ZIP code in the county, and sell more often over asking than in 60%. On our competition score, Monterey ranks #215 of 299 TN ZIP codes with enough sales (score 21 out of 100).

Nearby, buyers who want less competition could look at Silver Point 38582 (0% sold over asking) or Baxter 38544 (7% sold over asking), while Buffalo Valley 38548 (50% sold over asking) is even more competitive.