Is Lenoir City, 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, Lenoir City has remained a Seller's Market.
Housing Prices in Lenoir City, TN
How much do homes in Lenoir City, TN cost?
Median Sold Price
$393,316
$204/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Lenoir City was $393,316 in March 2024, up 13.3% from last year, and the median price per square foot was $204.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $70.5K | $100K | +41.8% |
2 Bedrooms | $272.7K | $298.8K | +9.5% |
3 Bedrooms | $330K | $375K | +13.6% |
4 Bedrooms | $490.1K | $539.5K | +10.1% |
5+ Bedrooms | $512.5K | $656.5K | +28.1% |
Summary: Lenoir City housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 41.8%, 2 bedroom homes increased by 9.5%, 3 bedroom homes increased by 13.6%, 4 bedroom homes increased by 10.1%, and 5+ bedroom homes increased by 28.1%.
Housing Supply in Lenoir City, TN
How many homes are available in Lenoir City, TN?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
134 | 138 | +3.0% |
Summary: The Lenoir City real estate market had 138 homes for sale in March 2024, a 3.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 21 | 17 | -19.0% |
3 Bedrooms | 67 | 73 | +9.0% |
4 Bedrooms | 38 | 37 | -2.6% |
5+ Bedrooms | 7 | 10 | +42.9% |
Summary: The Lenoir City 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 19%, 3 bedroom homes increased by 9%, 4 bedroom homes decreased by 2.6%, and 5+ bedroom homes increased by 42.9%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
27 | 34 | +25.9% |
Asking Price vs. Sold Price
18 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Summary: A total of 34 homes were sold or pending in Lenoir City in March 2024, up by 25.9% month-over-month. Of the 34 sold homes, 53% were sold under asking, 24% were sold at asking, and 24% were sold over asking.
Days on Market for Lenoir City, TN
How long does it take to sell a home in Lenoir City, TN?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
30 Days | 37 Days | +23.5% |
Summary: Homes in Lenoir City had an average of 37 days on market in Mar 2024, up by 23.5% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During March 2024, 34 homes were sold in Lenoir City; 56% of homes were sold within 30 days, 35% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.