Is Morgan 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, Morgan County has remained a Seller's Market.
Housing Prices in Morgan County, TN
How much do homes in Morgan County, TN cost?
Median Sold Price
$240,000
$166/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Morgan County was $240,000 in March 2024, up 20% from last year, and the median price per square foot was $166.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $132.9K | $154.5K | +16.2% |
2 Bedrooms | $150K | $152.4K | +1.6% |
3 Bedrooms | $195K | $244K | +25.1% |
4 Bedrooms | $235K | $357.5K | +52.1% |
5+ Bedrooms | $230K | $447K | +94.3% |
Summary: Morgan County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 16.2%, 2 bedroom homes increased by 1.6%, 3 bedroom homes increased by 25.1%, 4 bedroom homes increased by 52.1%, and 5+ bedroom homes increased by 94.3%.
Median Sold Price Compared To Nearby Counties
Morgan County | $200K | $240K | +20.0% |
Scott County | $187.5K | $215K | +14.7% |
Roane County | $235.2K | $251K | +6.7% |
Cumberland County | $300K | $318.1K | +6.1% |
Fentress County | $239.9K | $246.9K | +2.9% |
Housing Supply in Morgan County, TN
How many homes are available in Morgan County, TN?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
36 | 32 | -11.1% |
Summary: The Morgan County real estate market had 32 homes for sale in March 2024, a 11.1% decrease compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 1 | +100.0% |
2 Bedrooms | 4 | 3 | -25.0% |
3 Bedrooms | 25 | 22 | -12.0% |
4 Bedrooms | 5 | 3 | -40.0% |
5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Morgan 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 decreased by 25%, 3 bedroom homes decreased by 12%, 4 bedroom homes decreased by 40%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
8 | 7 | -12.5% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 7 homes were sold or pending in Morgan County in March 2024, down by 12.5% month-over-month. Of the 7 sold homes, 57% were sold under asking, 29% were sold at asking, and 14% were sold over asking.
Days on Market for Morgan County, TN
How long does it take to sell a home in Morgan County, TN?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
84 Days | 59 Days | -29.7% |
Summary: Homes in Morgan County had an average of 59 days on market in Mar 2024, down by 29.7% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 7 homes were sold in Morgan County; 29% of homes were sold within 30 days, 57% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.