Is Farragut, 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, Farragut has remained a Seller's Market.
Housing Prices in Farragut, TN
How much do homes in Farragut, TN cost?
Median Sold Price
$670,083
$218/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Farragut was $670,083 in March 2024, up 4.6% from last year, and the median price per square foot was $218.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $234K | - | N/A |
2 Bedrooms | $345K | $381K | +10.4% |
3 Bedrooms | $487.5K | $520K | +6.7% |
4 Bedrooms | $700.9K | $702.4K | 0.2% |
5+ Bedrooms | $844.5K | $865K | +2.4% |
Summary: Farragut 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 6.7%, 4 bedroom homes increased by 0.2%, and 5+ bedroom homes increased by 2.4%.
Median Sold Price Compared To Nearby Cities
Knoxville | $335K | $365K | +8.9% |
Farragut | $640.7K | $670K | +4.6% |
Housing Supply in Farragut, TN
How many homes are available in Farragut, TN?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
98 | 101 | +3.1% |
Summary: The Farragut real estate market had 101 homes for sale in March 2024, a 3.1% 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 | 4 | 3 | -25.0% |
3 Bedrooms | 23 | 19 | -17.4% |
4 Bedrooms | 51 | 54 | +5.9% |
5+ Bedrooms | 20 | 25 | +25.0% |
Summary: The Farragut 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 25%, 3 bedroom homes decreased by 17.4%, 4 bedroom homes increased by 5.9%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
21 | 28 | +33.3% |
Asking Price vs. Sold Price
15 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Summary: A total of 28 homes were sold or pending in Farragut in March 2024, up by 33.3% month-over-month. Of the 28 sold homes, 54% were sold under asking, 18% were sold at asking, and 29% were sold over asking.
Days on Market for Farragut, TN
How long does it take to sell a home in Farragut, TN?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
37 Days | 41 Days | +8.6% |
Summary: Homes in Farragut had an average of 41 days on market in Mar 2024, up by 8.6% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Summary: During March 2024, 28 homes were sold in Farragut; 61% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 21% of homes were sold over 90 days.