Is La Follette, 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, La Follette was a Seller's Market.
Key Takeaway
La Follette is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in La Follette, TN
How much do homes in La Follette, TN cost?
Median Sold Price
$223,000
$168/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in La Follette have sold for 8.8% more than they did a year ago.
Summary: The median home sold price in La Follette was $223,000 in May 2024, up 8.8% from last year, and the median price per square foot was $168.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $99.4K | $111.9K | +12.6% |
| 2 Bedrooms | $129.9K | $163K | +25.5% |
| 3 Bedrooms | $205K | $220K | +7.3% |
| 4 Bedrooms | $240K | $399.9K | +66.6% |
| 5+ Bedrooms | $849.9K | $927.5K | +9.1% |
Summary: La Follette housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 12.6%, 2 bedroom homes increased by 25.5%, 3 bedroom homes increased by 7.3%, 4 bedroom homes increased by 66.6%, and 5+ bedroom homes increased by 9.1%.
Median Sold Price Compared To Nearby Cities
| La Follette | $205K | $223K | +8.8% |
| Jacksboro | $267.2K | $290K | +8.5% |
Housing Supply in La Follette, TN
How many homes are available in La Follette, TN?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 103 | 96 | -6.8% |
Summary: The La Follette real estate market had 96 homes for sale in May 2024, a 6.8% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 1 | -66.7% |
| 2 Bedrooms | 20 | 21 | +5.0% |
| 3 Bedrooms | 59 | 52 | -11.9% |
| 4 Bedrooms | 15 | 14 | -6.7% |
| 5+ Bedrooms | 6 | 8 | +33.3% |
Summary: The La Follette housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 66.7%, 2 bedroom homes increased by 5%, 3 bedroom homes decreased by 11.9%, 4 bedroom homes decreased by 6.7%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 23 | 13 | -43.5% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in La Follette, expect to pay close to the asking price. 46.2% of homes here sold near the asking price last month.
Summary: A total of 13 homes were sold or pending in La Follette in May 2024, down by 43.5% month-over-month. Of the 13 sold homes, 31% were sold under asking, 46% were sold at asking, and 23% were sold over asking.
Days on Market for La Follette, TN
How long does it take to sell a home in La Follette, TN?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 52 Days | 25 Days | -51.1% |
Summary: Homes in La Follette had an average of 25 days on market in May 2024, down by 51.1% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in La Follette are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 13 homes were sold in La Follette; 77% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 0% 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®.