In Monterey, TN, homes are currently selling for about 1% to 5% below asking on average , with one recent market snapshot showing about 3.85% below asking and another showing 5% below list price. That means a typical offer may come in a few thousand to tens of thousands under list price, depending on the home’s price, condition, and how long it’s been sitting.

What that looks like

  • Average discount: roughly 1% to 5% below asking.
  • Hot homes: can sell closer to list, around 1% below asking.
  • Slower homes: may need bigger cuts, especially if they’ve been on the market for a while.

Market context

Monterey is being described as a buyers’ market , which usually means buyers have a bit more leverage in negotiations. The market has also shown homes spending around 69 to 80 days on market in recent snapshots, which often gives buyers more room to negotiate.

Simple rule of thumb

A practical starting offer in Monterey is often:

  1. Near asking if the home is newly listed and well priced.
  2. 3% to 5% under asking for a typical property.
  3. More than 5% under asking if the home needs work or has been sitting.

If you want, I can also break this down into a dollar amount for a specific Monterey home price.