Is Monteagle, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Monteagle is a seller's market

Buyer's
Market

Difference Since February 2023

At the same time last year, Monteagle was a Buyer's Market.

Key Takeaway

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

Housing Prices in Monteagle, TN

How much do homes in Monteagle, TN cost?

Median Sold Price

$514,545

$217/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$106,195(+26.0%)

Key Takeaway

Homes in Monteagle have sold for 26% more than they did a year ago.

Summary: The median home sold price in Monteagle was $514,545 in February 2024, up 26% from last year, and the median price per square foot was $217.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $359.9K-
N/A
2 $295.8K$315.2K
+6.6%
3 $419.9K$355K
-15.5%
4 $550K$529.9K
-3.6%
5+ -$605.6K
N/A

Summary: Monteagle housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 6.6%, 3 bedroom homes decreased by 15.5%, 4 bedroom homes decreased by 3.6%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Monteagle
+33.2%
Monteagle
+26.0%
Sewanee
-3.4%

Housing Supply in Monteagle, TN

How many homes are available in Monteagle, TN?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
3735-5.4%

Summary: The Monteagle real estate market had 35 homes for sale in February 2024, a 5.4% decrease compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 22
0.0%
2 45
+25.0%
3 1014
+40.0%
4 1611
-31.3%
5+ 53
-40.0%

Summary: The Monteagle housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 25%, 3 bedroom homes increased by 40%, 4 bedroom homes decreased by 31.3%, and 5+ bedroom homes decreased by 40%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
57+40.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Monteagle, you may be able to get a good deal. 42.9% of homes here sold below asking price last month.

Summary: A total of 7 homes were sold or pending in Monteagle in February 2024, up by 40.0% month-over-month. Of the 7 sold homes, 43% were sold under asking, 43% were sold at asking, and 14% were sold over asking.

Days on Market for Monteagle, TN

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

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During February 2024, 7 homes were sold in Monteagle; 57% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 14% 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 27 Days Ago

Newest Listings in Monteagle, TN

Nearby Markets to Monteagle, TN

What housing markets are near Monteagle, TN?