Is La Follette, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing La Follette is a buyer's market

Buyer's
Market

Difference Since September 2023

At the same time last year, La Follette was a Seller's Market.

Key Takeaway

La Follette is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in La Follette, TN

How much do homes in La Follette, TN cost?

Median Sold Price

$249,000

$176/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$36,800(+17.3%)

Key Takeaway

Homes in La Follette have sold for 17.3% more than they did a year ago.

Summary: The median home sold price in La Follette was $249,000 in September 2024, up 17.3% from last year, and the median price per square foot was $176.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $104.4K$115K
+10.2%
2 $146K$180K
+23.3%
3 $213K$248.5K
+16.7%
4 $274K$450K
+64.2%
5+ $890K$975K
+9.6%

Summary: La Follette housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.2%, 2 bedroom homes increased by 23.3%, 3 bedroom homes increased by 16.7%, 4 bedroom homes increased by 64.2%, and 5+ bedroom homes increased by 9.6%.

Median Sold Price Compared To Nearby Cities

La Follette
+17.3%
Jacksboro
+13.0%

Housing Supply in La Follette, TN

How many homes are available in La Follette, TN?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
116122+5.2%

Summary: The La Follette real estate market had 122 homes for sale in September 2024, a 5.2% increase compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 11
0.0%
2 2319
-17.4%
3 6269
+11.3%
4 1919
0.0%
5+ 1114
+27.3%

Summary: The La Follette housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 17.4%, 3 bedroom homes increased by 11.3%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 27.3%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
2312-47.8%

Asking Price vs. Sold Price

10 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in La Follette, you may be able to get a good deal. 83.3% of homes here sold below asking price last month.

Summary: A total of 12 homes were sold or pending in La Follette in September 2024, down by 47.8% month-over-month. Of the 12 sold homes, 83% were sold under asking, 17% were sold at asking, and 0% were sold over asking.

Days on Market for La Follette, TN

How long does it take to sell a home in La Follette, TN?

Average Sale Time

Sep 2023Sep 2024CHANGE
40 Days51 Days+27.7%

Summary: Homes in La Follette had an average of 51 days on market in Sep 2024, up by 27.7% compared to last year.

Breakdown of Home Sale Times

8 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in La Follette are selling fast, if you're buying plan to act quickly.

Summary: During September 2024, 12 homes were sold in La Follette; 67% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 30 Days Ago

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