Is Riceville, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Riceville is a seller's market

Buyer's
Market

Difference Since Last Month

Last month, Riceville was a Buyer's Market.

Key Takeaway

Riceville is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Riceville, TN

How much do homes in Riceville, TN cost?

Median Sold Price

$298,000

$184/sqft

Based on all homes sold in May 2024.

Difference Since Last Month

-$57,000(-16.1%)

Key Takeaway

Homes in Riceville have sold for 16.1% less than they did a month ago.

Summary: The median home sold price in Riceville was $298,000 in May 2024, down 16.1% from last month, and the median price per square foot was $184.

Median Sold Price By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 --
N/A
2 -$102K
N/A
3 $355K$298K
-16.1%
4 --
N/A
5+ --
N/A

Summary: Riceville housing prices by bedroom type for May 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 16.1%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Delano
+400.1%
Riceville
-16.1%

Housing Supply in Riceville, TN

How many homes are available in Riceville, TN?

Number of Homes For Sale

Apr 2024May 2024CHANGE
1722+29.4%

Summary: The Riceville real estate market had 22 homes for sale in May 2024, a 29.4% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 11
0.0%
2 21
-50.0%
3 1217
+41.7%
4 23
+50.0%
5+ 00
0.0%

Summary: The Riceville 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 50%, 3 bedroom homes increased by 41.7%, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Apr 2024May 2024CHANGE
24+100.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Riceville, you may be able to get a good deal. 75% of homes here sold below asking price last month.

Summary: A total of 4 homes were sold or pending in Riceville in May 2024, up by 100.0% month-over-month. Of the 4 sold homes, 75% were sold under asking, 0% were sold at asking, and 25% were sold over asking.

Days on Market for Riceville, TN

How long does it take to sell a home in Riceville, TN?

Average Sale Time

Apr 2024May 2024CHANGE
475 Days13 Days-97.3%

Summary: Homes in Riceville had an average of 13 days on market in May 2024, down by 97.3% compared to last month.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Riceville are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 4 homes were sold in Riceville; 75% 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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 1 Day Ago

Newest Listings in Riceville, TN

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