Is New Tazewell, 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, New Tazewell has remained a Seller's Market.
Housing Prices in New Tazewell, TN
How much do homes in New Tazewell, TN cost?
Median Sold Price
$280,000
$162/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in New Tazewell was $280,000 in May 2024, up 1.9% from last year, and the median price per square foot was $162.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $55K | N/A |
2 Bedrooms | $230K | $216K | -6.1% |
3 Bedrooms | $274.9K | $282.5K | +2.7% |
4 Bedrooms | $335.4K | $345K | +2.8% |
5+ Bedrooms | $530.8K | $700K | +31.9% |
Summary: New Tazewell 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 decreased by 6.1%, 3 bedroom homes increased by 2.7%, 4 bedroom homes increased by 2.8%, and 5+ bedroom homes increased by 31.9%.
Median Sold Price Compared To Nearby Cities
Tazewell | $197K | $219.3K | +11.4% |
New Tazewell | $274.9K | $280K | +1.9% |
Housing Supply in New Tazewell, TN
How many homes are available in New Tazewell, TN?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
37 | 47 | +27.0% |
Summary: The New Tazewell real estate market had 47 homes for sale in May 2024, a 27.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 4 | 7 | +75.0% |
3 Bedrooms | 25 | 30 | +20.0% |
4 Bedrooms | 5 | 5 | 0.0% |
5+ Bedrooms | 3 | 5 | +66.7% |
Summary: The New Tazewell 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 increased by 75%, 3 bedroom homes increased by 20%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 66.7%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
3 | 9 | +200.0% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 9 homes were sold or pending in New Tazewell in May 2024, up by 200.0% month-over-month. Of the 9 sold homes, 89% were sold under asking, 11% were sold at asking, and 0% were sold over asking.
Days on Market for New Tazewell, TN
How long does it take to sell a home in New Tazewell, TN?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
69 Days | 168 Days | +143.6% |
Summary: Homes in New Tazewell had an average of 168 days on market in May 2024, up by 143.6% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Summary: During May 2024, 9 homes were sold in New Tazewell; 22% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 56% of homes were sold over 90 days.