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Featured local agent — Milan, TN
Sarah Mitchell
Compass Real Estate · Milan, TN
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Milan, TN Housing Market & Real Estate
Housing market overview · Updated monthly ·
$162,368median sale price
How is the Milan, TN housing market right now?
The median home sale price in Milan, TN is $162,368, down 18.4% year-over-year. Homes sell in an average of 78 days with 27 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 Milan a buyer's or seller's market?
Milan, TN is currently a balanced market, based on 3.4 months of supply and homes selling in about 78 days. How we determine this →
Homes sold
8
Last 12 weeks
Days on market
78
Average pace
Active listings
27
3.4 months supply
Sale-to-list
96.1%
Below asking
What does the Milan housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $162,368 |
| Median list price | $220,000 |
| Year-over-year price change | -18.4% |
| Average days on market | 78 days |
| Active inventory | 27 listings |
| Months of supply | 3.4 months |
| Sale-to-list price ratio | 96.1% |
| Median price per sq ft | $124/sq ft |
| Homes sold (latest month) | 8 |
| New listings (latest month) | 14 |
| Listings with a price cut | 29.6% |
| Market condition | Balanced market |
Source: Redfin · Updated monthly
How much do homes cost in Milan by property type?
How the Milan, 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 | $162,368 | $124/sq ft | 8 | 78 days |
| Condo / Co-op | $185,000 | $166/sq ft | 1 | — |
Source: Redfin · Updated monthly
The Milan housing market is currently classified as a balanced market with a median sale price of $162,368. Prices have fallen 18.4% compared to last year, with homes spending an average of 78 days on market, indicating 3.4 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 4.1x provides context for how home values compare to local earning capacity.
Homes for sale in Milan
There are currently 27 homes listed for sale in Milan, Tennessee. The median listing price is $220K.
Active listings
27
Homes on market
Median list price
$220K
Avg. days on market
78
Days until sale
New this week
14
Newly listed
Who lives in Milan?
Population
8,194
Median income
$45,608/yr
Median age
36.1 years
Owner-occupied
51.9%
College grads
13.5%
Avg commute
24.2 min
Source: U.S. Census Bureau ACS
What are homes worth in Milan?
Zillow home value
$186,707
Price-to-income
4.1x
Source: Zillow Research
What is it like to live in Milan?
Milan is a community of approximately 8K residents with a median age of 36.1 years.The median household income is $45,608, which represents a working-class community with solid middle-income opportunities. 13.5% of residents hold a bachelor's degree or higher, showing a mixed educational demographic.
Homeownership rates are at 51.9%, showing a blend of owner and renter-occupied properties. The average commute time is 24.2 minutes, which makes this an excellent choice for those seeking short commutes to employment centers.Overall, Milan offers a balanced lifestyle with accessible home values relative to local income levels.
Which public schools serve Milan?
4 schools tracked · 1,985 students
The largest public schools serving Milan, 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.
Milan Elementary
Grades PK-4 · 860 students
Milan Middle School
Grades 5-8 · 602 students
Milan High School
Grades 9-12 · 516 students
Milan High School Academy
Grades 9-12 · 7 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 Milan, TN?
Want a head-to-head view? Compare Milan side-by-side with any other U.S. city using our market-comparison tool.
Frequently asked questions
What is the average home price in Milan?
The median home sale price in Milan is $162,368, down 18.4% from last year.
How long do homes stay on market in Milan?
Homes typically spend 78 days on market before going under contract.
What is the median income in Milan?
The median household income is $45,608 per year.
Is Milan a buyer's or seller's market?
With 3.4 months of supply, Milan is currently a balanced market.
What is the Zillow home value estimate for Milan?
The Zillow Home Value Index (ZHVI) for Milan is $186,707, representing the typical home value in the area.
What is the median condo price in Milan?
The median condo/co-op sale price in Milan, TN is $185,000, compared to $162,368 for a single-family home, based on the latest Redfin data.
How much does a single-family home cost in Milan?
The median single-family home price in Milan, TN is $162,368 (about $124 per square foot).
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