The Melrose housing market is somewhat competitive. The median sale price of a home in Melrose was $450K last month, down 2.2% since last year. The median sale price per square foot in Melrose is $433, up 7.8% since last year.
In March 2024, Melrose home prices were down 2.2% compared to last year, selling for a median price of $450K. On average, homes in Melrose sell after 73 days on the market compared to 48 days last year. There were 7 homes sold in March this year, up from 6 last year.
All Home Types
Median Sale PriceAll Home Types
Median Sale Price
(All Home Types)
$450,000
-2.2% YoY | Mar 2024
Based on Redfin calculations of home data from MLS and/or public records.
Location
Data
Mar 2024
Growth
% YoY
Melrose, TN
$450,000
-2.2%
United States
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How hot is the Melrose housing market?
Melrose is somewhat competitive. Homes sell in 59.5 days.
0
100
36
Somewhat Competitive
Redfin Compete Score™
The Redfin Compete Score rates how competitive an area is on a scale of 0 to 100, where 100 is the most competitive.
Calculated over the last 9 months
Some homes get multiple offers.
The average homes sell for about 3% below list price and go pending in around 60 days.
Hot homes
can sell for around list price and go pending in around 31 days.
School data provided by GreatSchools. School service boundaries are intended to be used as reference only. To verify enrollment eligibility for a property, contact the school directly.
Climate's impact on Melrose housing
Learn about natural hazards and environmental risks, such as floods, fires, wind, and heat that
could impact homes in Melrose.
Risk Factor
Flood Factor - Major
22% of properties are at risk of severe flooding over the next 30 years
Flood Factor
Melrose has a major risk of flooding. 207 properties in Melrose are likely to be
severely affected
by flooding over the next 30 years. This represents 22% of all properties in Melrose. Flood risk is increasing slower than the national average.
6% of properties are at risk of wildfire over the next 30 years
Fire Factor
Melrose has a minor risk of wildfire. There are 82 properties in Melrose that have some risk of being affected by wildfire over the next 30 years. This represents 6% of all properties in Melrose.
100% of properties are at moderate
risk of a severe wind event over the next 30 years
Wind Factor
Melrose has a Moderate Wind Factor® risk based on the projected likelihood and speed of hurricane, tornado, or severe storm winds impacting it. Melrose is most at risk from hurricanes. 1,198 properties in Melrose have some risk of being in a severe wind event within the next 30 years.
Wind likelihood over time
If an exceedingly rare windstorm
(a 1-in-3,000 year storm event)
occurred today, it could cause wind gusts of up to 64 mph. In 30 years, an event of this same likelihood would show increased wind gusts of up to 72 mph.