Is McMinn County, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing McMinn County is a seller's market

Buyer's
Market

Difference Since August 2023

Since last year, McMinn County has remained a Seller's Market.

Key Takeaway

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

Housing Prices in McMinn County, TN

How much do homes in McMinn County, TN cost?

Median Sold Price

$257,333

$164/sqft

Based on all homes sold in the last 12 months.

Difference Since August 2023

+$16,833(+7.0%)

Key Takeaway

Homes in McMinn County have sold for 7% more than they did a year ago.

Summary: The median home sold price in McMinn County was $257,333 in August 2024, up 7% from last year, and the median price per square foot was $164.

Median Sold Price By Bedroom Count

# BEDSAug 2023Aug 2024CHANGE
1 $37.5K$164K
+337.3%
2 $168K$183K
+8.9%
3 $242.9K$256.7K
+5.7%
4 $315K$330K
+4.8%
5+ $320K$348.3K
+8.9%

Summary: McMinn County housing prices by bedroom type for August 2024 compared to the previous year: The home price of 1 bedroom homes increased by 337.3%, 2 bedroom homes increased by 8.9%, 3 bedroom homes increased by 5.7%, 4 bedroom homes increased by 4.8%, and 5+ bedroom homes increased by 8.9%.

Median Sold Price Compared To Nearby Counties

Meigs County
+31.6%
Monroe County
+8.4%
McMinn County
+7.0%
Bradley County
+5.0%
Polk County
-2.8%

Housing Supply in McMinn County, TN

How many homes are available in McMinn County, TN?

Number of Homes For Sale

Jul 2024Aug 2024CHANGE
244274+12.3%

Summary: The McMinn County real estate market had 274 homes for sale in August 2024, a 12.3% increase compared to July 2024.

Homes For Sale By Bedroom Count

# BEDSJul 2024Aug 2024CHANGE
1 32
-33.3%
2 3539
+11.4%
3 137149
+8.8%
4 6172
+18.0%
5+ 812
+50.0%

Summary: The McMinn County housing inventory by bedroom type for August 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes increased by 11.4%, 3 bedroom homes increased by 8.8%, 4 bedroom homes increased by 18%, and 5+ bedroom homes increased by 50%.

Number of Homes Sold

Jul 2024Aug 2024CHANGE
4753+12.8%

Asking Price vs. Sold Price

34 Homes Were Sold
Under Asking

13 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in McMinn County, you may be able to get a good deal. 64.2% of homes here sold below asking price last month.

Summary: A total of 53 homes were sold or pending in McMinn County in August 2024, up by 12.8% month-over-month. Of the 53 sold homes, 64% were sold under asking, 25% were sold at asking, and 11% were sold over asking.

Days on Market for McMinn County, TN

How long does it take to sell a home in McMinn County, TN?

Average Sale Time

Aug 2023Aug 2024CHANGE
39 Days32 Days-17.5%

Summary: Homes in McMinn County had an average of 32 days on market in Aug 2024, down by 17.5% compared to last year.

Breakdown of Home Sale Times

19 Homes Were Sold
Under 30 Days

17 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During August 2024, 53 homes were sold in McMinn County; 36% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 0% 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 7 Days Ago

Newest Listings in McMinn County, TN

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