Is Sweetwater, 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, Sweetwater has remained a Seller's Market.
Housing Prices in Sweetwater, TN
How much do homes in Sweetwater, TN cost?
Median Sold Price
$264,000
$165/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Sweetwater was $264,000 in May 2024, up 17.3% from last year, and the median price per square foot was $165.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $131K | $129K | -1.5% |
2 Bedrooms | $179.9K | $205.5K | +14.2% |
3 Bedrooms | $241.4K | $264K | +9.3% |
4 Bedrooms | $294.8K | $320K | +8.5% |
5+ Bedrooms | $422.5K | $452.5K | +7.1% |
Summary: Sweetwater housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.5%, 2 bedroom homes increased by 14.2%, 3 bedroom homes increased by 9.3%, 4 bedroom homes increased by 8.5%, and 5+ bedroom homes increased by 7.1%.
Housing Supply in Sweetwater, TN
How many homes are available in Sweetwater, TN?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
67 | 75 | +11.9% |
Summary: The Sweetwater real estate market had 75 homes for sale in May 2024, a 11.9% increase 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 | 8 | 9 | +12.5% |
3 Bedrooms | 42 | 46 | +9.5% |
4 Bedrooms | 8 | 12 | +50.0% |
5+ Bedrooms | 8 | 7 | -12.5% |
Summary: The Sweetwater 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 12.5%, 3 bedroom homes increased by 9.5%, 4 bedroom homes increased by 50%, and 5+ bedroom homes decreased by 12.5%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
15 | 15 | 0.0% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 15 homes were sold or pending in Sweetwater in May 2024, the same as the previous month. Of the 15 sold homes, 53% were sold under asking, 33% were sold at asking, and 13% were sold over asking.
Days on Market for Sweetwater, TN
How long does it take to sell a home in Sweetwater, TN?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
28 Days | 44 Days | +54.7% |
Summary: Homes in Sweetwater had an average of 44 days on market in May 2024, up by 54.7% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 15 homes were sold in Sweetwater; 60% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.