Is Erwin, 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, Erwin has remained a Seller's Market.
Housing Prices in Erwin, TN
How much do homes in Erwin, TN cost?
Median Sold Price
$227,500
$159/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Erwin was $227,500 in March 2024, up 13.8% from last year, and the median price per square foot was $159.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $62.5K | - | N/A |
2 Bedrooms | $140K | $154.5K | +10.4% |
3 Bedrooms | $210K | $256K | +21.9% |
4 Bedrooms | $250K | $289.9K | +16.0% |
5+ Bedrooms | $299K | $442.5K | +48.0% |
Summary: Erwin 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 10.4%, 3 bedroom homes increased by 21.9%, 4 bedroom homes increased by 16%, 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
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
45 | 44 | -2.2% |
Summary: The Erwin real estate market had 44 homes for sale in March 2024, a 2.2% decrease 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 | 10 | 6 | -40.0% |
3 Bedrooms | 25 | 28 | +12.0% |
4 Bedrooms | 5 | 5 | 0.0% |
5+ Bedrooms | 5 | 5 | 0.0% |
Summary: The Erwin 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 decreased by 40%, 3 bedroom homes increased by 12%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
13 | 8 | -38.5% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 8 homes were sold or pending in Erwin in March 2024, down by 38.5% month-over-month. Of the 8 sold homes, 63% were sold under asking, 13% were sold at asking, and 25% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
116 Days | 164 Days | +40.7% |
Summary: Homes in Erwin had an average of 164 days on market in Mar 2024, up by 40.7% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Summary: During March 2024, 8 homes were sold in Erwin; 13% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 75% of homes were sold over 90 days.