Is Tellico Plains, 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, Tellico Plains was a Neutral Market.
Key Takeaway
Tellico Plains is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Tellico Plains, TN
How much do homes in Tellico Plains, TN cost?
Median Sold Price
$278,300
$179/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Tellico Plains have sold for 13% more than they did a year ago.
Summary: The median home sold price in Tellico Plains was $278,300 in May 2024, up 13% from last year, and the median price per square foot was $179.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $195K | $779K | +299.5% |
| 2 Bedrooms | $215K | $280K | +30.2% |
| 3 Bedrooms | $305K | $248.9K | -18.4% |
| 4 Bedrooms | $307.5K | $312.2K | +1.5% |
| 5+ Bedrooms | - | $189K | N/A |
Summary: Tellico Plains housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 299.5%, 2 bedroom homes increased by 30.2%, 3 bedroom homes decreased by 18.4%, 4 bedroom homes increased by 1.5%, and 5+ bedroom homes did not change.
Housing Supply in Tellico Plains, TN
How many homes are available in Tellico Plains, TN?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 55 | 56 | +1.8% |
Summary: The Tellico Plains real estate market had 56 homes for sale in May 2024, a 1.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 2 | +100.0% |
| 2 Bedrooms | 16 | 17 | +6.3% |
| 3 Bedrooms | 30 | 27 | -10.0% |
| 4 Bedrooms | 6 | 7 | +16.7% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Tellico Plains housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 6.3%, 3 bedroom homes decreased by 10%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 5 | 11 | +120.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Tellico Plains, you may be able to get a good deal. 54.5% of homes here sold below asking price last month.
Summary: A total of 11 homes were sold or pending in Tellico Plains in May 2024, up by 120.0% month-over-month. Of the 11 sold homes, 55% were sold under asking, 18% were sold at asking, and 27% were sold over asking.
Days on Market for Tellico Plains, TN
How long does it take to sell a home in Tellico Plains, TN?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 145 Days | 63 Days | -56.0% |
Summary: Homes in Tellico Plains had an average of 63 days on market in May 2024, down by 56% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Tellico Plains are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 11 homes were sold in Tellico Plains; 55% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 18% of homes were sold over 90 days.
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Knoxville Area Association of REALTORS® Multiple Listing Service. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some or all of the listings may not belong to the firm whose website is being visited. Real estate listings held by brokerage firms other than this broker are indicated by detailed information about them such as the name of the listing firms. 
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Greater Chattanooga Association of Realtors®. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Copyright© 2024 Greater Chattanooga Association of REALTORS®.
Listings courtesy of RealTracs Middle Tennessee Regional MLS as distributed by MLS GRID.
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