Is Monroe County, 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, Monroe County has remained a Seller's Market.
Housing Prices in Monroe County, TN
How much do homes in Monroe County, TN cost?
Median Sold Price
$304,944
$185/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Monroe County was $304,944 in March 2024, up 17.5% from last year, and the median price per square foot was $185.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $210K | $144.5K | -31.2% |
2 Bedrooms | $195K | $232.4K | +19.2% |
3 Bedrooms | $265K | $306K | +15.5% |
4 Bedrooms | $345K | $379.4K | +10.0% |
5+ Bedrooms | $570K | $660K | +15.8% |
Summary: Monroe County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 31.2%, 2 bedroom homes increased by 19.2%, 3 bedroom homes increased by 15.5%, 4 bedroom homes increased by 10%, and 5+ bedroom homes increased by 15.8%.
Median Sold Price Compared To Nearby Counties
Loudon County | $402.4K | $474.4K | +17.9% |
Monroe County | $259.4K | $304.9K | +17.5% |
McMinn County | $230K | $251.1K | +9.2% |
Cherokee County | $299.9K | $320K | +6.7% |
Housing Supply in Monroe County, TN
How many homes are available in Monroe County, TN?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
245 | 232 | -5.3% |
Summary: The Monroe County real estate market had 232 homes for sale in March 2024, a 5.3% decrease compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 4 | +100.0% |
2 Bedrooms | 39 | 45 | +15.4% |
3 Bedrooms | 163 | 135 | -17.2% |
4 Bedrooms | 30 | 33 | +10.0% |
5+ Bedrooms | 11 | 15 | +36.4% |
Summary: The Monroe County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 15.4%, 3 bedroom homes decreased by 17.2%, 4 bedroom homes increased by 10%, and 5+ bedroom homes increased by 36.4%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
40 | 46 | +15.0% |
Asking Price vs. Sold Price
26 Homes Were Sold
Under Asking
15 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 46 homes were sold or pending in Monroe County in March 2024, up by 15.0% month-over-month. Of the 46 sold homes, 57% were sold under asking, 33% were sold at asking, and 11% were sold over asking.
Days on Market for Monroe County, TN
How long does it take to sell a home in Monroe County, TN?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
59 Days | 54 Days | -8.8% |
Summary: Homes in Monroe County had an average of 54 days on market in Mar 2024, down by 8.8% compared to last year.
Breakdown of Home Sale Times
23 Homes Were Sold
Under 30 Days
13 Homes Were Sold
In 30 - 90 Days
8 Homes Were Sold
Over 90 Days
Summary: During March 2024, 46 homes were sold in Monroe County; 50% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.