Is Mountain City, 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, Mountain City was a Seller's Market.
Key Takeaway
Mountain City is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Mountain City, TN
How much do homes in Mountain City, TN cost?
Median Sold Price
$225,000
$167/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Mountain City have sold for 10% less than they did a year ago.
Summary: The median home sold price in Mountain City was $225,000 in May 2024, down 10% from last year, and the median price per square foot was $167.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $141K | $95K | -32.6% |
| 2 Bedrooms | $265.9K | $199K | -25.2% |
| 3 Bedrooms | $250K | $225K | -10.0% |
| 4 Bedrooms | $272.5K | $356.5K | +30.8% |
| 5+ Bedrooms | $192.5K | $950K | +393.5% |
Summary: Mountain City housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 32.6%, 2 bedroom homes decreased by 25.2%, 3 bedroom homes decreased by 10%, 4 bedroom homes increased by 30.8%, and 5+ bedroom homes increased by 393.5%.
Housing Supply in Mountain City, TN
How many homes are available in Mountain City, TN?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 59 | 61 | +3.4% |
Summary: The Mountain City real estate market had 61 homes for sale in May 2024, a 3.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 9 | 9 | 0.0% |
| 3 Bedrooms | 36 | 37 | +2.8% |
| 4 Bedrooms | 10 | 11 | +10.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Mountain City 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 2.8%, 4 bedroom homes increased by 10%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 12 | 9 | -25.0% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Mountain City, you may be able to get a good deal. 77.8% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in Mountain City in May 2024, down by 25.0% month-over-month. Of the 9 sold homes, 78% were sold under asking, 11% were sold at asking, and 11% were sold over asking.
Days on Market for Mountain City, TN
How long does it take to sell a home in Mountain City, TN?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 51 Days | 101 Days | +98.3% |
Summary: Homes in Mountain City had an average of 101 days on market in May 2024, up by 98.3% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Mountain City has remained consistent over time.
Summary: During May 2024, 9 homes were sold in Mountain City; 22% of homes were sold within 30 days, 44% of homes were sold within 30 to 90 days, and 33% 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.