Is Erwin, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Erwin has remained a Seller's Market.
Housing Prices in Erwin, TN
How much do homes in Erwin, TN cost?
Median Sold Price
$230,000
$162/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Erwin was $230,000 in April 2024, up 15% from last year, and the median price per square foot was $162.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $62.5K | $145K | +132.0% |
2 Bedrooms | $140K | $152K | +8.6% |
3 Bedrooms | $212K | $255.9K | +20.7% |
4 Bedrooms | $245K | $315K | +28.6% |
5+ Bedrooms | $299K | $530K | +77.3% |
Summary: Erwin housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 132%, 2 bedroom homes increased by 8.6%, 3 bedroom homes increased by 20.7%, 4 bedroom homes increased by 28.6%, and 5+ bedroom homes increased by 77.3%.
Housing Supply in Erwin, TN
How many homes are available in Erwin, TN?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
44 | 40 | -9.1% |
Summary: The Erwin real estate market had 40 homes for sale in April 2024, a 9.1% decrease compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 7 | 5 | -28.6% |
3 Bedrooms | 27 | 23 | -14.8% |
4 Bedrooms | 5 | 7 | +40.0% |
5+ Bedrooms | 5 | 5 | 0.0% |
Summary: The Erwin housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 28.6%, 3 bedroom homes decreased by 14.8%, 4 bedroom homes increased by 40%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
8 | 10 | +25.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 10 homes were sold or pending in Erwin in April 2024, up by 25.0% month-over-month. Of the 10 sold homes, 40% were sold under asking, 20% were sold at asking, and 40% were sold over asking.
Days on Market for Erwin, TN
How long does it take to sell a home in Erwin, TN?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
104 Days | 115 Days | +9.9% |
Summary: Homes in Erwin had an average of 115 days on market in Apr 2024, up by 9.9% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Summary: During April 2024, 10 homes were sold in Erwin; 0% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.