Is Erwin, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 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
$159/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in Erwin was $230,000 in February 2024, up 20.1% from last year, and the median price per square foot was $159.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $62.5K | - | N/A |
2 Bedrooms | $140K | $160.9K | +15.0% |
3 Bedrooms | $207.5K | $247.5K | +19.3% |
4 Bedrooms | $240K | $310K | +29.2% |
5+ Bedrooms | $299K | $442.5K | +48.0% |
Summary: Erwin housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 15%, 3 bedroom homes increased by 19.3%, 4 bedroom homes increased by 29.2%, and 5+ bedroom homes increased by 48%.
Housing Supply in Erwin, TN
How many homes are available in Erwin, TN?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
47 | 42 | -10.6% |
Summary: The Erwin real estate market had 42 homes for sale in February 2024, a 10.6% decrease compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 0 | -100.0% |
2 Bedrooms | 13 | 9 | -30.8% |
3 Bedrooms | 24 | 22 | -8.3% |
4 Bedrooms | 5 | 5 | 0.0% |
5+ Bedrooms | 4 | 6 | +50.0% |
Summary: The Erwin housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 30.8%, 3 bedroom homes decreased by 8.3%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
7 | 13 | +85.7% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 13 homes were sold or pending in Erwin in February 2024, up by 85.7% month-over-month. Of the 13 sold homes, 69% were sold under asking, 15% were sold at asking, and 15% 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
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
96 Days | 72 Days | -25.3% |
Summary: Homes in Erwin had an average of 72 days on market in Feb 2024, down by 25.3% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During February 2024, 13 homes were sold in Erwin; 0% of homes were sold within 30 days, 85% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.