Is Lenoir City, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lenoir City is a seller's market

Buyer's
Market

Difference Since April 2021

Since last year, Lenoir City has remained a Seller's Market.

Key Takeaway

Lenoir City is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in Lenoir City, TN cost?

Median Sold Price

$250,000

$151/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2021

+$13,500(+5.7%)

Key Takeaway

Homes in Lenoir City have sold for 5.7% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSApr 2021Apr 2022%
1 $87K$70.5K
-19.0%
2 $138.5K$155K
+11.9%
3 $220K$252K
+14.5%
4 $347.9K$382.5K
+9.9%
5+ $327.4K$329K
0.5%

How many homes are available in Lenoir City, TN?

Number of Homes For Sale

Mar 2022Apr 2022%
5644-21.4%

Homes For Sale By Bedroom Count

# BEDSMar 2022Apr 2022%
1 21
-50.0%
2 813
+62.5%
3 3119
-38.7%
4 107
-30.0%
5+ 54
-20.0%

Number of Homes Sold

Mar 2022Apr 2022%
2314-39.1%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lenoir City, expect to pay close to the asking price. 42.9% of homes here sold near the asking price last month.

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

About Lenoir City, TN

Lenoir City, TN has 44 homes on the market. The inventory of homes for sale in Lenoir City, TN between March 2022 and April 2022 decreased by 21.4%. From March 2022 through April 2022, the following changes in listing prices were observed in this housing market: prices of 1 bedroom properties went down by 19%, the cost of 2 bedrooms properties went up by 11.9%, 3 bedrooms properties prices increased by 14.5%, prices of 4 bedrooms properties increased by 9.9%, prices of 5 bedrooms properties went up by 0.5%. Housing inventory have changed in this real estate market: volume of 1 bedroom homes went down by 50%, 2 bedrooms homes inventory increased by 62.5%, the quantity of 3 bedrooms homes went down by 38.7%, volume of 4 bedrooms homes went down by 30%, 5 bedrooms homes inventory decreased by 20%. Over 5 listings were sold over their listed price in April 2022 in Lenoir City, TN. In the same period over 3 listings were sold below the listed price and 6 listings were sold for the listed price.