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Featured local agent — Monterey, TN
Sarah Mitchell
Compass Real Estate · Monterey, TN
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Monterey, TN Housing Market & Real Estate
Housing market overview · Updated monthly ·
$177,000median sale price
How is the Monterey, TN housing market right now?
The median home sale price in Monterey, TN is $177,000, down 74.0% year-over-year. Homes sell in an average of 64 days with 15 active listings. The market is currently a buyer's 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 Monterey a buyer's or seller's market?
Monterey, TN is currently a buyer's market, based on 5.0 months of supply and homes selling in about 64 days. How we determine this →
Homes sold
3
Last 12 weeks
Days on market
64
Average pace
Active listings
15
5.0 months supply
Sale-to-list
88.7%
Below asking
What does the Monterey housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $177,000 |
| Median list price | $309,450 |
| Year-over-year price change | -74.0% |
| Average days on market | 64 days |
| Active inventory | 15 listings |
| Months of supply | 5.0 months |
| Sale-to-list price ratio | 88.7% |
| Median price per sq ft | $219/sq ft |
| Homes sold (latest month) | 3 |
| New listings (latest month) | 2 |
| Listings with a price cut | 33.3% |
| Market condition | Buyer's market |
Source: Redfin · Updated monthly
How much do homes cost in Monterey by property type?
How the Monterey, 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 | $177,000 | $219/sq ft | 3 | 64 days |
Source: Redfin · Updated monthly
The Monterey housing market is currently classified as a buyer's market with a median sale price of $177,000. Prices have fallen 74.0% compared to last year, with homes spending an average of 64 days on market, indicating 5.0 months of inventory.This inventory level gives buyers significantly more negotiating power, allowing time to inspect properties thoroughly and potentially negotiate better terms.The price-to-income ratio of 7.1x provides context for how home values compare to local earning capacity.
Homes for sale in Monterey
There are currently 15 homes listed for sale in Monterey, Tennessee. The median listing price is $309K.
Active listings
15
Homes on market
Median list price
$309K
Avg. days on market
64
Days until sale
New this week
2
Newly listed
Who lives in Monterey?
Population
2,751
Median income
$42,402/yr
Median age
27.1 years
Owner-occupied
60.1%
College grads
8.2%
Avg commute
21.6 min
Source: U.S. Census Bureau ACS
What are homes worth in Monterey?
Zillow home value
$302,548
Price-to-income
7.1x
Source: Zillow Research
What is it like to live in Monterey?
Monterey is a community of approximately 3K residents with a median age of 27.1 years.The median household income is $42,402, which represents a working-class community with solid middle-income opportunities. 8.2% of residents hold a bachelor's degree or higher, showing a mixed educational demographic.
Homeownership rates are at 60.1%, showing a blend of owner and renter-occupied properties. The average commute time is 21.6 minutes, which makes this an excellent choice for those seeking short commutes to employment centers.Overall, Monterey offers a balanced lifestyle with accessible home values relative to local income levels.
Which public schools serve Monterey?
2 schools tracked · 1,074 students
The largest public schools serving Monterey, 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.
Monterey High School
Grades 7-12 · 544 students
Burks Elementary
Grades PK-6 · 530 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 Monterey, TN?
Want a head-to-head view? Compare Monterey side-by-side with any other U.S. city using our market-comparison tool.
Frequently asked questions
What is the average home price in Monterey?
The median home sale price in Monterey is $177,000, down 74.0% from last year.
How long do homes stay on market in Monterey?
Homes typically spend 64 days on market before going under contract.
What is the median income in Monterey?
The median household income is $42,402 per year.
Is Monterey a buyer's or seller's market?
With 5.0 months of supply, Monterey is currently a buyer's market.
What is the Zillow home value estimate for Monterey?
The Zillow Home Value Index (ZHVI) for Monterey is $302,548, representing the typical home value in the area.
How much does a single-family home cost in Monterey?
The median single-family home price in Monterey, TN is $177,000 (about $219 per square foot).
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