Is La Follette, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, La Follette was a Seller's Market.
Key Takeaway
La Follette is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in La Follette, TN
How much do homes in La Follette, TN cost?
Median Sold Price
$215,000
$164/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in La Follette have sold for 2.4% more than they did a year ago.
Summary: The median home sold price in La Follette was $215,000 in March 2024, up 2.4% from last year, and the median price per square foot was $164.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $121.9K | $111.9K | -8.2% |
| 2 Bedrooms | $126K | $155K | +23.0% |
| 3 Bedrooms | $207.5K | $215K | +3.6% |
| 4 Bedrooms | $247.5K | $280K | +13.1% |
| 5+ Bedrooms | $852.4K | $887.5K | +4.1% |
Summary: La Follette housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 8.2%, 2 bedroom homes increased by 23%, 3 bedroom homes increased by 3.6%, 4 bedroom homes increased by 13.1%, and 5+ bedroom homes increased by 4.1%.
Median Sold Price Compared To Nearby Cities
| Jacksboro | $269.2K | $294.9K | +9.5% |
| La Follette | $210K | $215K | +2.4% |
Housing Supply in La Follette, TN
How many homes are available in La Follette, TN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 99 | 100 | +1.0% |
Summary: The La Follette real estate market had 100 homes for sale in March 2024, a 1.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 3 | +50.0% |
| 2 Bedrooms | 24 | 18 | -25.0% |
| 3 Bedrooms | 53 | 62 | +17.0% |
| 4 Bedrooms | 12 | 11 | -8.3% |
| 5+ Bedrooms | 8 | 6 | -25.0% |
Summary: The La Follette housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes decreased by 25%, 3 bedroom homes increased by 17%, 4 bedroom homes decreased by 8.3%, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 14 | 16 | +14.3% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in La Follette, you may be able to get a good deal. 68.8% of homes here sold below asking price last month.
Summary: A total of 16 homes were sold or pending in La Follette in March 2024, up by 14.3% month-over-month. Of the 16 sold homes, 69% were sold under asking, 0% were sold at asking, and 31% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 52 Days | 73 Days | +38.1% |
Summary: Homes in La Follette had an average of 73 days on market in Mar 2024, up by 38.1% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in La Follette has remained consistent over time.
Summary: During March 2024, 16 homes were sold in La Follette; 31% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 31% of homes were sold over 90 days.
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.