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Featured local agent — Gray, TN
Sarah Mitchell
Compass Real Estate · Gray, TN
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Gray, TN Housing Market & Real Estate
Housing market overview · Updated monthly ·
$292,500median sale price
How is the Gray, TN housing market right now?
The median home sale price in Gray, TN is $292,500, down 17.6% year-over-year. Homes sell in an average of 127 days with 5 active listings. The market is currently a balanced market. (Source: Redfin monthly MLS data, as of May 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is Gray a buyer's or seller's market?
Gray, TN is currently a balanced market, based on 2.5 months of supply and homes selling in about 127 days. How we determine this →
Homes sold
2
Last 12 weeks
Days on market
127
Average pace
Active listings
5
2.5 months supply
Sale-to-list
100.0%
Above asking
What does the Gray housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $292,500 |
| Median list price | $549,900 |
| Year-over-year price change | -17.6% |
| Average days on market | 127 days |
| Active inventory | 5 listings |
| Months of supply | 2.5 months |
| Sale-to-list price ratio | 100.0% |
| Median price per sq ft | $194/sq ft |
| Homes sold (latest month) | 2 |
| New listings (latest month) | 1 |
| Listings with a price cut | 60.0% |
| Market condition | Balanced market |
Source: Redfin · Updated monthly
How much do homes cost in Gray by property type?
How the Gray, TN market breaks down across single-family homes, condos, and townhouses.
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $292,500 | $194/sq ft | 2 | 127 days |
| Condo / Co-op | $241,000 | $209/sq ft | 1 | 213 days |
| Townhouse | $311,000 | $214/sq ft | 2 | 66 days |
Source: Redfin · Updated monthly
The Gray housing market is currently classified as a balanced market with a median sale price of $292,500. Prices have fallen 17.6% compared to last year, with homes spending an average of 127 days on market, indicating 2.5 months of inventory.With limited inventory, homes sell quickly and buyers should be prepared to act decisively and competitively to secure a property.The price-to-income ratio of 4.7x provides context for how home values compare to local earning capacity.
Homes for sale in Gray
There are currently 5 homes listed for sale in Gray, Tennessee. The median listing price is $550K.
Active listings
5
Homes on market
Median list price
$550K
Avg. days on market
127
Days until sale
New this week
1
Newly listed
Who lives in Gray?
Population
1,606
Median income
$66,585/yr
Median age
50.8 years
Owner-occupied
72.5%
College grads
33.5%
Avg commute
29.7 min
Source: U.S. Census Bureau ACS
What are homes worth in Gray?
Zillow home value
$311,918
Price-to-income
4.7x
Source: Zillow Research
What is it like to live in Gray?
Gray is a community of approximately 2K residents with a median age of 50.8 years.The median household income is $66,585, which represents a working-class community with solid middle-income opportunities. 33.5% of residents hold a bachelor's degree or higher, showing a mixed educational demographic.
Homeownership rates are at 72.5%, reflecting strong community stability and long-term resident commitment. The average commute time is 29.7 minutes, which makes this an excellent choice for those seeking short commutes to employment centers.Overall, Gray offers a balanced lifestyle with accessible home values relative to local income levels.
Which public schools serve Gray?
3 schools tracked · 2,432 students
The largest public schools serving Gray, TN by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
Daniel Boone High School
Grades 9-12 · 1,146 students
Ridgeview Elementary School
Grades PK-8 · 788 students
Gray Elementary School
Grades PK-8 · 498 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Gray, TN?
Want a head-to-head view? Compare Gray side-by-side with any other U.S. city using our market-comparison tool.
Frequently asked questions
What is the average home price in Gray?
The median home sale price in Gray is $292,500, down 17.6% from last year.
How long do homes stay on market in Gray?
Homes typically spend 127 days on market before going under contract.
What is the median income in Gray?
The median household income is $66,585 per year.
Is Gray a buyer's or seller's market?
With 2.5 months of supply, Gray is currently a balanced market.
What is the Zillow home value estimate for Gray?
The Zillow Home Value Index (ZHVI) for Gray is $311,918, representing the typical home value in the area.
What is the median condo price in Gray?
The median condo/co-op sale price in Gray, TN is $241,000, compared to $292,500 for a single-family home, based on the latest Redfin data.
How much does a single-family home cost in Gray?
The median single-family home price in Gray, TN is $292,500 (about $194 per square foot).
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