Is Surgoinsville, 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, Surgoinsville has remained a Seller's Market.
Key Takeaway
Surgoinsville is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Surgoinsville, TN
How much do homes in Surgoinsville, TN cost?
Median Sold Price
$200,000
$153/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Surgoinsville have sold for 9.7% less than they did a year ago.
Summary: The median home sold price in Surgoinsville was $200,000 in May 2024, down 9.7% from last year, and the median price per square foot was $153.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $13.7K | N/A |
| 2 Bedrooms | $150K | $193K | +28.7% |
| 3 Bedrooms | $230K | $199.9K | -13.1% |
| 4 Bedrooms | $249K | $330K | +32.5% |
| 5+ Bedrooms | $269.5K | $187K | -30.6% |
Summary: Surgoinsville 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 28.7%, 3 bedroom homes decreased by 13.1%, 4 bedroom homes increased by 32.5%, and 5+ bedroom homes decreased by 30.6%.
Median Sold Price Compared To Nearby Cities
| Church Hill | $250K | $255K | +2.0% |
| Surgoinsville | $221.5K | $200K | -9.7% |
Housing Supply in Surgoinsville, TN
How many homes are available in Surgoinsville, TN?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 19 | 19 | 0.0% |
Summary: The Surgoinsville real estate market had 19 homes for sale in May 2024, the same as April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 6 | 6 | 0.0% |
| 3 Bedrooms | 9 | 10 | +11.1% |
| 4 Bedrooms | 2 | 1 | -50.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Surgoinsville 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 remained the same, 3 bedroom homes increased by 11.1%, 4 bedroom homes decreased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 4 | 5 | +25.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Surgoinsville, expect to pay close to the asking price. 40% of homes here sold near the asking price last month.
Summary: A total of 5 homes were sold or pending in Surgoinsville in May 2024, up by 25.0% month-over-month. Of the 5 sold homes, 20% were sold under asking, 40% were sold at asking, and 40% were sold over asking.
Days on Market for Surgoinsville, TN
How long does it take to sell a home in Surgoinsville, TN?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 46 Days | 156 Days | +234.5% |
Summary: Homes in Surgoinsville had an average of 156 days on market in May 2024, up by 234.5% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Surgoinsville are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During May 2024, 5 homes were sold in Surgoinsville; 20% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 60% of homes were sold over 90 days.
