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Featured local agent — Morristown, TN
Sarah Mitchell
Compass Real Estate · Morristown, TN
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Morristown, TN Housing Market & Real Estate
Housing market overview · Updated monthly ·
$308,375median sale price
How is the Morristown, TN housing market right now?
The median home sale price in Morristown, TN is $308,375, down 2.3% year-over-year. Homes sell in an average of 103 days with 121 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 Morristown a buyer's or seller's market?
Morristown, TN is currently a balanced market, based on 2.6 months of supply and homes selling in about 103 days. How we determine this →
Homes sold
46
Last 12 weeks
Days on market
103
Average pace
Active listings
121
2.6 months supply
Sale-to-list
97.8%
Below asking
What does the Morristown housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $308,375 |
| Median list price | $270,000 |
| Year-over-year price change | -2.3% |
| Average days on market | 103 days |
| Active inventory | 121 listings |
| Months of supply | 2.6 months |
| Sale-to-list price ratio | 97.8% |
| Median price per sq ft | $195/sq ft |
| Homes sold (latest month) | 46 |
| New listings (latest month) | 38 |
| Listings with a price cut | 33.9% |
| Market condition | Balanced market |
Source: Redfin · Updated monthly
How much do homes cost in Morristown by property type?
How the Morristown, 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 | $308,375 | $196/sq ft | 44 | 112 days |
| Condo / Co-op | $269,950 | $190/sq ft | 2 | 19 days |
| Townhouse | $214,500 | $120/sq ft | 1 | 30 days |
Source: Redfin · Updated monthly
The Morristown housing market is currently classified as a balanced market with a median sale price of $308,375. Prices have fallen 2.3% compared to last year, with homes spending an average of 103 days on market, indicating 2.6 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 6.1x provides context for how home values compare to local earning capacity.
Homes for sale in Morristown
There are currently 121 homes listed for sale in Morristown, Tennessee. The median listing price is $270K.
Active listings
121
Homes on market
Median list price
$270K
Avg. days on market
103
Days until sale
New this week
38
Newly listed
Who lives in Morristown?
Population
30,983
Median income
$44,811/yr
Median age
37.5 years
Owner-occupied
53.3%
College grads
14.7%
Avg commute
20.7 min
Source: U.S. Census Bureau ACS
What are homes worth in Morristown?
Zillow home value
$273,724
Zillow rent index
$1,502/mo
Price-to-rent ratio
15.2x
Price-to-income
6.1x
Source: Zillow Research
What is it like to live in Morristown?
Morristown is a community of approximately 31K residents with a median age of 37.5 years.The median household income is $44,811, which represents a working-class community with solid middle-income opportunities. 14.7% of residents hold a bachelor's degree or higher, showing a mixed educational demographic.
Homeownership rates are at 53.3%, showing a blend of owner and renter-occupied properties. The average commute time is 20.7 minutes, which makes this an excellent choice for those seeking short commutes to employment centers.Overall, Morristown offers a balanced lifestyle with accessible home values relative to local income levels.
Which public schools serve Morristown?
15 schools tracked · 8,946 students
The largest public schools serving Morristown, 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.
Morristown East High
Grades 9-12 · 1,520 students
Morristown West High
Grades 9-12 · 1,499 students
Hillcrest Elementary
Grades PK-5 · 639 students
Manley Elementary
Grades PK-5 · 618 students
Meadowview Middle School
Grades 6-8 · 597 students
Alpha Elementary
Grades K-5 · 594 students
West View Middle School
Grades 6-8 · 590 students
Lincoln Heights Middle School
Grades 6-8 · 568 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 Morristown, TN?
Want a head-to-head view? Compare Morristown side-by-side with any other U.S. city using our market-comparison tool.
Is Morristown a good real estate investment market?
For investors evaluating Morristown, the price-to-rent ratio of 15.2x indicates higher purchase prices relative to rental income, typical of appreciation-focused markets. The market has softened 2.3% year-over-year, potentially creating entry opportunities for strategic buyers.Use our rent vs. buy calculator to analyze whether owning or renting makes more financial sense based on Morristown's current market conditions and your specific situation. Estimate your monthly payment with the mortgage calculator using Morristown's median home price.
Frequently asked questions
What is the average home price in Morristown?
The median home sale price in Morristown is $308,375, down 2.3% from last year.
How long do homes stay on market in Morristown?
Homes typically spend 103 days on market before going under contract.
What is the median income in Morristown?
The median household income is $44,811 per year.
Is Morristown a buyer's or seller's market?
With 2.6 months of supply, Morristown is currently a balanced market.
What is the Zillow home value estimate for Morristown?
The Zillow Home Value Index (ZHVI) for Morristown is $273,724, representing the typical home value in the area.
What is the median condo price in Morristown?
The median condo/co-op sale price in Morristown, TN is $269,950, compared to $308,375 for a single-family home, based on the latest Redfin data.
How much does a single-family home cost in Morristown?
The median single-family home price in Morristown, TN is $308,375 (about $196 per square foot).
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