Is Red Boiling Springs, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Red Boiling Springs was a Buyer's Market.
Key Takeaway
Red Boiling Springs is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Red Boiling Springs, TN
How much do homes in Red Boiling Springs, TN cost?
Median Sold Price
$220,450
$156/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Red Boiling Springs have sold for 10.2% more than they did a year ago.
Summary: The median home sold price in Red Boiling Springs was $220,450 in May 2024, up 10.2% from last year, and the median price per square foot was $156.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $157.5K | $150K | -4.8% |
| 3 Bedrooms | $229.9K | $233K | +1.3% |
| 4 Bedrooms | $180K | $527.8K | +193.2% |
| 5+ Bedrooms | - | $53K | N/A |
Summary: Red Boiling Springs 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 4.8%, 3 bedroom homes increased by 1.3%, 4 bedroom homes increased by 193.2%, and 5+ bedroom homes did not change.
Housing Supply in Red Boiling Springs, TN
How many homes are available in Red Boiling Springs, TN?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 17 | 20 | +17.6% |
Summary: The Red Boiling Springs real estate market had 20 homes for sale in May 2024, a 17.6% 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 | 3 | 5 | +66.7% |
| 3 Bedrooms | 13 | 14 | +7.7% |
| 4 Bedrooms | 0 | 0 | 0.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Red Boiling Springs 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 66.7%, 3 bedroom homes increased by 7.7%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 2 | 5 | +150.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Red Boiling Springs, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Red Boiling Springs in May 2024, up by 150.0% month-over-month. Of the 5 sold homes, 60% were sold under asking, 20% were sold at asking, and 20% were sold over asking.
Days on Market for Red Boiling Springs, TN
How long does it take to sell a home in Red Boiling Springs, TN?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 23 Days | 10 Days | -54.0% |
Summary: Homes in Red Boiling Springs had an average of 10 days on market in May 2024, down by 54% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Red Boiling Springs are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 5 homes were sold in Red Boiling Springs; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Listings courtesy of RealTracs Middle Tennessee Regional MLS as distributed by MLS GRID.
© 2024 of the REALTRACS MLS. All rights Reserved.