Is Loudon, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Loudon has remained a Seller's Market.
Key Takeaway
Loudon is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Loudon, TN
How much do homes in Loudon, TN cost?
Median Sold Price
$573,291
$251/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Loudon have sold for 15.8% more than they did a year ago.
Summary: The median home sold price in Loudon was $573,291 in May 2024, up 15.8% from last year, and the median price per square foot was $251.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $191K | N/A |
| 2 Bedrooms | $186.7K | $235.5K | +26.1% |
| 3 Bedrooms | $499.9K | $571.3K | +14.3% |
| 4 Bedrooms | $649.9K | $650K | 0.0% |
| 5+ Bedrooms | $407.6K | $837.5K | +105.4% |
Summary: Loudon housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 26.1%, 3 bedroom homes increased by 14.3%, 4 bedroom homes did not change, and 5+ bedroom homes increased by 105.4%.
Housing Supply in Loudon, TN
How many homes are available in Loudon, TN?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 249 | 246 | -1.2% |
Summary: The Loudon real estate market had 246 homes for sale in May 2024, a 1.2% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 13 | 11 | -15.4% |
| 3 Bedrooms | 162 | 166 | +2.5% |
| 4 Bedrooms | 59 | 57 | -3.4% |
| 5+ Bedrooms | 14 | 11 | -21.4% |
Summary: The Loudon housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 15.4%, 3 bedroom homes increased by 2.5%, 4 bedroom homes decreased by 3.4%, and 5+ bedroom homes decreased by 21.4%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 59 | 60 | +1.7% |
Asking Price vs. Sold Price
37 Homes Were Sold
Under Asking
12 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Loudon, you may be able to get a good deal. 61.7% of homes here sold below asking price last month.
Summary: A total of 60 homes were sold or pending in Loudon in May 2024, up by 1.7% month-over-month. Of the 60 sold homes, 62% were sold under asking, 20% were sold at asking, and 18% were sold over asking.
Days on Market for Loudon, TN
How long does it take to sell a home in Loudon, TN?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 36 Days | 40 Days | +12.1% |
Summary: Homes in Loudon had an average of 40 days on market in May 2024, up by 12.1% compared to last year.
Breakdown of Home Sale Times
39 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
9 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Loudon are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 60 homes were sold in Loudon; 65% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Knoxville Area Association of REALTORS® Multiple Listing Service. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some or all of the listings may not belong to the firm whose website is being visited. Real estate listings held by brokerage firms other than this broker are indicated by detailed information about them such as the name of the listing firms. 
Listings courtesy of RealTracs Middle Tennessee Regional MLS as distributed by MLS GRID.
© 2024 of the REALTRACS MLS. All rights Reserved. 
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Greater Chattanooga Association of Realtors®. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Copyright© 2024 Greater Chattanooga Association of REALTORS®.