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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Meigs County is a seller's market

Buyer's
Market

Difference Since August 2023

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 in Meigs County, TN

How much do homes in Meigs County, TN cost?

Median Sold Price

$400,000

$209/sqft

Based on all homes sold in the last 12 months.

Difference Since August 2023

+$96,000(+31.6%)

Key Takeaway

Homes in Meigs County have sold for 31.6% more than they did a year ago.

Summary: The median home sold price in Meigs County was $400,000 in August 2024, up 31.6% from last year, and the median price per square foot was $209.

Median Sold Price By Bedroom Count

# BEDSAug 2023Aug 2024CHANGE
1 $232.4K$190K
-18.3%
2 $167.5K$235K
+40.3%
3 $315K$387.4K
+23.0%
4 $379K$800K
+111.1%
5+ $725K$657.5K
-9.3%

Summary: Meigs County housing prices by bedroom type for August 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 18.3%, 2 bedroom homes increased by 40.3%, 3 bedroom homes increased by 23%, 4 bedroom homes increased by 111.1%, and 5+ bedroom homes decreased by 9.3%.

Median Sold Price Compared To Nearby Counties

Meigs County
+31.6%
McMinn County
+7.0%
Rhea County
+5.6%
Bradley County
+5.0%
Hamilton County
+2.7%

Housing Supply in Meigs County, TN

How many homes are available in Meigs County, TN?

Number of Homes For Sale

Jul 2024Aug 2024CHANGE
1031030.0%

Summary: The Meigs County real estate market had 103 homes for sale in August 2024, the same as July 2024.

Homes For Sale By Bedroom Count

# BEDSJul 2024Aug 2024CHANGE
1 11
0.0%
2 912
+33.3%
3 7266
-8.3%
4 1920
+5.3%
5+ 24
+100.0%

Summary: The Meigs County housing inventory by bedroom type for August 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 33.3%, 3 bedroom homes decreased by 8.3%, 4 bedroom homes increased by 5.3%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Jul 2024Aug 2024CHANGE
2219-13.6%

Asking Price vs. Sold Price

10 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Meigs County, you may be able to get a good deal. 52.6% of homes here sold below asking price last month.

Summary: A total of 19 homes were sold or pending in Meigs County in August 2024, down by 13.6% month-over-month. Of the 19 sold homes, 53% were sold under asking, 32% were sold at asking, and 16% were sold over asking.

Days on Market for Meigs County, TN

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

Average Sale Time

Aug 2023Aug 2024CHANGE
60 Days73 Days+22.5%

Summary: Homes in Meigs County had an average of 73 days on market in Aug 2024, up by 22.5% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During August 2024, 19 homes were sold in Meigs County; 26% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 11% 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 17 Days Ago

Newest Listings in Meigs County, TN

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