Is Meigs County, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since August 2022
Since last year, Meigs County has remained a Seller's Market.
Key Takeaway
Meigs County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices
How much do homes in Meigs County, TN cost?
Median Sold Price
$304,000
$168/sqft
Based on all homes sold in the last 12 months.
Difference Since August 2022
Key Takeaway
Homes in Meigs County have sold for 13.1% less than they did a year ago.
Summary: The median home sold price in Meigs County was $304,000 in August 2023, down 13.1% from last year, and the median price per square foot was $168.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Aug 2022 | Aug 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $204.9K | $185K | -9.7% |
| 2 Bedrooms | $210K | $165K | -21.4% |
| 3 Bedrooms | $341.1K | $309K | -9.4% |
| 4 Bedrooms | $582.4K | $380.5K | -34.7% |
| 5+ Bedrooms | $705K | $782.4K | +11.0% |
Summary: Meigs County housing prices by bedroom type for August 2023 compared to the previous year: The home price of 1 bedroom homes decreased by 9.7%, 2 bedroom homes decreased by 21.4%, 3 bedroom homes decreased by 9.4%, 4 bedroom homes decreased by 34.7%, and 5+ bedroom homes increased by 11%.
Median Sold Price Compared To Nearby Counties
| Rhea County | $237.7K | $294.6K | +23.9% |
| Bradley County | $269.9K | $299.5K | +11.0% |
| Hamilton County | $329K | $350K | +6.4% |
| McMinn County | $238.1K | $239.9K | +0.8% |
| Meigs County | $349.9K | $304K | -13.1% |
Housing Supply
How many homes are available in Meigs County, TN?
Number of Homes For Sale
| Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|
| 76 | 80 | +5.3% |
Summary: The Meigs County real estate market had 80 homes for sale in August 2023, a 5.3% increase compared to July 2023.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 9 | 10 | +11.1% |
| 3 Bedrooms | 42 | 48 | +14.3% |
| 4 Bedrooms | 22 | 16 | -27.3% |
| 5+ Bedrooms | 2 | 5 | +150.0% |
Summary: The Meigs County housing inventory by bedroom type for August 2023 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 11.1%, 3 bedroom homes increased by 14.3%, 4 bedroom homes decreased by 27.3%, and 5+ bedroom homes increased by 150%.
Number of Homes Sold
| Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|
| 18 | 16 | -11.1% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Meigs County, you may be able to get a good deal. 56.3% of homes here sold below asking price last month.
Summary: A total of 16 homes were sold or pending in Meigs County in August 2023, down by 11.1% month-over-month. Of the 16 sold homes, 56% were sold under asking, 25% were sold at asking, and 19% were sold over asking.
Days on Market
How long does it take to sell a home in Meigs County, TN?
Average Sale Time
| Aug 2022 | Aug 2023 | CHANGE |
|---|---|---|
| 24 Days | 200 Days | +715.0% |
Summary: Homes in Meigs County had an average of 200 days on market in Aug 2023, up by 715% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Meigs County are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During August 2023, 16 homes were sold in Meigs County; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 13% 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. 
Listings courtesy of RealTracs Middle Tennessee Regional MLS as distributed by MLS GRID.
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