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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Sweetwater is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Sweetwater has remained a Seller's Market.

Key Takeaway

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

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

+$39,000(+17.3%)

Key Takeaway

Homes in Sweetwater have sold for 17.3% more than they did a year ago.

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

# BEDSMay 2023May 2024CHANGE
1 $131K$129K
-1.5%
2 $179.9K$205.5K
+14.2%
3 $241.4K$264K
+9.3%
4 $294.8K$320K
+8.5%
5+ $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 2024May 2024CHANGE
6775+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

# BEDSApr 2024May 2024CHANGE
1 11
0.0%
2 89
+12.5%
3 4246
+9.5%
4 812
+50.0%
5+ 87
-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 2024May 2024CHANGE
15150.0%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Sweetwater, you may be able to get a good deal. 53.3% of homes here sold below asking price last month.

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 2023May 2024CHANGE
28 Days44 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

Breakdown of Home Sale Times

Key Takeaway

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

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.

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

Report Updated 1 Day Ago

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