Bartlett Real Estate – A 2024 Market Update Deep Dive
Whether you're looking for a single-family home or a condo, staying up-to-date on market trends is essential. Here's an in-depth look at the current state of the market, based on data from January 1, 2024, through September 4, 2024.
Bartlett Single-Family Homes
The single-family home market in Bartlett remains steady, with 25 homes currently on the market:
- Median Price: $650,000
- Median Days on Market: 49
- Price Range: The least expensive home is listed at $215,000, while the most expensive is at $3,000,000.
In addition to the active listings, 10 homes are currently under contract:
- Median Price of Pending Sales: $984,500
- Median Days on Market: 52
- Noteworthy Listings: Three of these pending properties are new construction, priced at $1,200,000.
Sales Data So Far in 2024
So far this year, 37 single-family homes have sold in Bartlett:
- Median Sale Price: $525,000
- Median Days on Market: 15
- Sales Price Range: The least expensive sale was for $269,000, while the most expensive sold for $2,350,000.
With 37 sales in the first eight months of 2024, Bartlett averages about 4.6 sales per month. Currently, there are 25 active listings, giving the market around 5.4 months of supply. This points to a balanced market, where neither buyers nor sellers have a strong upper hand.
Bartlett Condos
The condo market in Bartlett offers a variety of options as well. Currently, 19 condos are listed (excluding timeshares):
- Median Price: $375,000
- Median Days on Market: 31
- Price Range: The least expensive condo is listed at $220,000, while the most expensive is at $700,000.
Additionally, 12 condos are under contract, and here’s a breakdown of those pending sales:
- Median Price of Pending Sales: $427,450
- Median Days on Market: 72
- Pending Sales Price Range: From $300,000 to $650,000
2024 Condo Sales Performance
In the first eight months of 2024, there have been 41 condo sales:
- Median Sale Price: $410,000
- Median Days on Market: 17, indicating strong buyer interest.
- Sales Price Range: The least expensive condo sold for $205,000, while the highest-priced condo sold for $915,000.
With 41 sales in the first 8 months, the condo market averages 5.1 sales per month. Given that there are 19 active listings, Bartlett's condo market has approximately 3.7 months of supply, making it more seller-friendly than the single-family market. This lower inventory tends to favor sellers, giving them the advantage of quicker sales and possibly stronger pricing power.
What This Means for You
The 2024 Bartlett real estate market presents a mix of balanced opportunities for single-family homes and a more competitive edge for condo sellers. For buyers, the single-family home market offers more breathing room with a balanced supply, while condo buyers may need to act more swiftly in a seller-favorable environment.
If you’re considering listing your property, the data shows a healthy, active market with homes and condos moving at a reasonable pace. On the flip side, if you’re looking to buy, staying informed and ready to move quickly—especially in the condo market—will be essential.
As always, if you have any questions or need help navigating the Bartlett real estate market, don’t hesitate to reach out. Whether you’re buying or selling, I’m here to assist!