Is Alcoa, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Alcoa has remained a Seller's Market.
Housing Prices in Alcoa, TN
How much do homes in Alcoa, TN cost?
Median Sold Price
$285,000
$230/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Alcoa was $285,000 in March 2024, up 5.3% from last year, and the median price per square foot was $230.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $199.9K | $237.5K | +18.8% |
3 Bedrooms | $278.3K | $289K | +3.8% |
4 Bedrooms | $600K | $629.5K | +4.9% |
5+ Bedrooms | $729.9K | $329K | -54.9% |
Summary: Alcoa housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 18.8%, 3 bedroom homes increased by 3.8%, 4 bedroom homes increased by 4.9%, and 5+ bedroom homes decreased by 54.9%.
Median Sold Price Compared To Nearby Cities
Louisville | $396K | $499K | +26.0% |
Rockford | $251K | $296.9K | +18.3% |
Knoxville | $335K | $365K | +8.9% |
Maryville | $350K | $370.7K | +5.9% |
Alcoa | $270.6K | $285K | +5.3% |
Housing Supply in Alcoa, TN
How many homes are available in Alcoa, TN?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
32 | 39 | +21.9% |
Summary: The Alcoa real estate market had 39 homes for sale in March 2024, a 21.9% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 7 | 12 | +71.4% |
3 Bedrooms | 17 | 19 | +11.8% |
4 Bedrooms | 6 | 5 | -16.7% |
5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Alcoa housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 71.4%, 3 bedroom homes increased by 11.8%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
8 | 17 | +112.5% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 17 homes were sold or pending in Alcoa in March 2024, up by 112.5% month-over-month. Of the 17 sold homes, 59% were sold under asking, 18% were sold at asking, and 24% were sold over asking.
Days on Market for Alcoa, TN
How long does it take to sell a home in Alcoa, TN?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
10 Days | 18 Days | +74.3% |
Summary: Homes in Alcoa had an average of 18 days on market in Mar 2024, up by 74.3% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 17 homes were sold in Alcoa; 65% of homes were sold within 30 days, 35% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.