Is Bonny Oaks / Highway 58, 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, Bonny Oaks / Highway 58 has remained a Seller's Market.
Key Takeaway
Bonny Oaks / Highway 58 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Bonny Oaks / Highway 58, TN
How much do homes in Bonny Oaks / Highway 58, TN cost?
Median Sold Price
$258,500
$184/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Bonny Oaks / Highway 58 have sold for 10% more than they did a year ago.
Summary: The median home sold price in Bonny Oaks / Highway 58 was $258,500 in April 2024, up 10% from last year, and the median price per square foot was $184.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $190K | $261.1K | +37.4% |
| 3 Bedrooms | $228K | $250K | +9.6% |
| 4 Bedrooms | $254.9K | $296K | +16.1% |
| 5+ Bedrooms | $405K | $354.2K | -12.5% |
Summary: Bonny Oaks / Highway 58 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 37.4%, 3 bedroom homes increased by 9.6%, 4 bedroom homes increased by 16.1%, and 5+ bedroom homes decreased by 12.5%.
Median Sold Price Compared To Nearby Neighborhoods
| Lake Hills | $251K | $305K | +21.5% |
| Bonny Oaks / Highway 58 | $235K | $258.5K | +10.0% |
| Ooltewah / Summit | $419.6K | $448.8K | +7.0% |
| Dupont / Murray Hills | $308K | $320K | +3.9% |
Housing Supply in Bonny Oaks / Highway 58, TN
How many homes are available in Bonny Oaks / Highway 58, TN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 32 | 27 | -15.6% |
Summary: The Bonny Oaks / Highway 58 real estate market had 27 homes for sale in April 2024, a 15.6% 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 | 2 | 3 | +50.0% |
| 3 Bedrooms | 20 | 16 | -20.0% |
| 4 Bedrooms | 10 | 8 | -20.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Bonny Oaks / Highway 58 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 increased by 50%, 3 bedroom homes decreased by 20%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 12 | 8 | -33.3% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
5 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Bonny Oaks / Highway 58, expect to pay close to the asking price. 62.5% of homes here sold near the asking price last month.
Summary: A total of 8 homes were sold or pending in Bonny Oaks / Highway 58 in April 2024, down by 33.3% month-over-month. Of the 8 sold homes, 13% were sold under asking, 63% were sold at asking, and 25% were sold over asking.
Days on Market for Bonny Oaks / Highway 58, TN
We’re sorry, we don't have information for this market at the moment
Listings courtesy of RealTracs Middle Tennessee Regional MLS as distributed by MLS GRID.
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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.