Sep 2026
$345K
-0.7% year-over-year
How it’s calculated
Rolling 3-month median sale price vs. same 3 months one year prior.
Morristown, TN housing market
Morristown, TN metro median sale price $345K in Sep 2026, down 0.7% year over year. Also days on market, price cuts, affordability and ZIP-code figures.
The median sale price in the Morristown, TN metro is $345K as of Sep 2026, down 0.7% from a year earlier. The decline is steeper than in most of the 383 U.S. metros Pecan Street ranks on this measure. FHFA's repeat-sales index for the metro points the other way: up 0.9% through Q2 2026.
On median sale price, Morristown ($345K) ranks 4th of the 10 Tennessee metros Pecan Street tracks, between Chattanooga ($366K) and Cleveland ($323K). On median days on market, Morristown (66 days) ranks 6th of the 10 Tennessee metros, between Chattanooga (67 days) and Johnson City (65 days). On share of listings with a price cut, Morristown (46%) ranks 4th of the 10 Tennessee metros, between Knoxville (47%) and Chattanooga (42%).
Listings spent a median 66 days on market in Sep 2026, more than in most of the 385 metros. 46% of active listings carry a price cut, 5.1 points fewer than a year earlier. That share is higher than in most of the 385 metros.
At the 7.29% 30-year fixed rate with 20% down, principal and interest on a median-priced home come to $1,889 a month; at 28% of gross income, that takes about $81K a year. The median sale price equals about 20 years of HUD Fair Market Rent, a ratio up 2.1% from a year earlier. That ratio is the 29th-highest of the 373 metros. Active listings ask a median $237 per square foot, up 3.2% from a year earlier.
In four of the six ZIP codes in the table below, median list prices are higher than a year earlier; two are lower.
Headline
Oct 15, 2026
7.29%
30-year fixed
Where it comes from
National benchmark: Optimal Blue OBMMI 30-year conforming, via FRED. An average of rates borrowers have actually locked, updated daily.
The same rate appears on every market page.
Principal & interest
$1,889/mo
$81K/yr income needed
How it’s calculated
Payment — this market’s median sale price with 20% down, on a 30-year fixed loan at the rate shown. Principal and interest only — no property tax, insurance, PMI or HOA.
Income needed — that payment at 28% of gross income. A rule of thumb, not a lending decision.
How Morristown compares to other U.S. metros
| Price-to-rent | ↑29th of 373 (top 8%) |
|---|---|
| Price cuts | ↑60th of 385 (top 16%) |
| Home-price growth | ↓310th of 383 |
| Days on market | ↑113th of 385 (top 30%) |
Rank across the U.S. metros Pecan Street tracks, on market data alone — a higher rank means more of that measure (more price cuts, faster price growth, a wider asking-vs-sale gap, a higher price-to-rent ratio, or more days on market). The bar shows where this metro sits within that metric’s own cohort (left is more, right is less); ↑ and ↓ mark the positions furthest from the middle, and rows are ordered the same way. Metrics without data for this metro are omitted.
Affordability
| Price-to-rent ratio | ≈ 20 +2.1% YoY ↑29th of 373 (top 8%) |
|---|---|
| Asking price / sq ft | $237 +3.2% YoY |
Price-to-rent divides the median sale price by the annual HUD Fair Market Rent (a 3-bedroom, 40th-percentile benchmark), so it is a directional rent-vs-buy read, not a cap rate; its year-over-year change is directional in the same way. Asking price per square foot is the median across active for-sale listings (Realtor.com), as of Sep 2026. The bar under a figure places this metro among the U.S. metros we track on that measure, highest first.
Market pressure
| Listings with a price cut | ≈ 46% -5.1 pts YoY ↑60th of 385 (top 16%) |
|---|
Price-cut share is the portion of active for-sale listings that have taken a price reduction (Realtor.com), as of Sep 2026. The bar under a figure places this metro among the U.S. metros we track on that measure, highest first.
Market facts
| ZIPs with listing data | 6 shown of 9 |
|---|---|
| MLS board of record | — |
| Price methodology | Redfin vs FHFA HPI |
| Data as of | Sep 2026 |
Recent signals
No signals flagged for this market right now.
Price reconciliation
normal · 1.6ppRedfin (metro) -0.7% | FHFA HPI · Q2 2026 +0.9% |
Year-over-year home-price change from two independent methods — Redfin (monthly sold price) and FHFA (quarterly repeat-sales index). When they diverge, the market is mid-shift; cite the figure with that in mind.
More markets in TN
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Try it freeZIP-level data
| ZIP | Median list price | Active listings | New listings | Price reductions | Days on market | Home value |
|---|---|---|---|---|---|---|
| 37725 | $650K↑ | 172↑ | 48↑ | 78↓ | 67↑ | $384K↑ |
| 37760 | $450K↑ | 53↑ | 12↑ | 24↓ | 74↑ | $307K↑ |
| 37813 | $339K↑ | 47↑ | 22↓ | 30↑ | 79↑ | $226K↑ |
| 37814 | $414K↓ | 102↓ | 28↓ | 40↓ | 57↑ | $281K↑ |
| 37877 | $360K↓ | 28↓ | 4↓ | 6↓ | 80↑ | $303K↑ |
| 37890 | $500K↑ | 42↑ | 6↑ | 22↑ | 78↑ | $295K↑ |
ZIP figures from Realtor.com listing data; home value from Zillow ZHVI. ZIP codes shown have the most complete listing-data history and active for-sale inventory in this metro; the latest available month is shown per ZIP. Arrows show the direction of each figure against the same three months a year earlier; no arrow means the change rounds to zero or the comparison isn't available.