Is Mountain City, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Mountain City was a Seller's Market.
Housing Prices in Mountain City, TN
How much do homes in Mountain City, TN cost?
Median Sold Price
$225,000
$167/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Mountain City was $225,000 in March 2024, down 10% from last year, and the median price per square foot was $167.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $190K | $117K | -38.4% |
2 Bedrooms | $232.9K | $211.9K | -9.0% |
3 Bedrooms | $250K | $209K | -16.4% |
4 Bedrooms | $400K | $312.5K | -21.9% |
5+ Bedrooms | $250K | $650K | +160.0% |
Summary: Mountain City housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 38.4%, 2 bedroom homes decreased by 9%, 3 bedroom homes decreased by 16.4%, 4 bedroom homes decreased by 21.9%, and 5+ bedroom homes increased by 160%.
Housing Supply in Mountain City, TN
How many homes are available in Mountain City, TN?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
45 | 45 | 0.0% |
Summary: The Mountain City real estate market had 45 homes for sale in March 2024, the same as February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 3 | +200.0% |
2 Bedrooms | 7 | 6 | -14.3% |
3 Bedrooms | 27 | 27 | 0.0% |
4 Bedrooms | 8 | 8 | 0.0% |
5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The Mountain City housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 200%, 2 bedroom homes decreased by 14.3%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
5 | 7 | +40.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 7 homes were sold or pending in Mountain City in March 2024, up by 40.0% month-over-month. Of the 7 sold homes, 71% were sold under asking, 29% were sold at asking, and 0% were sold over asking.
Days on Market for Mountain City, TN
How long does it take to sell a home in Mountain City, TN?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
105 Days | 133 Days | +27.2% |
Summary: Homes in Mountain City had an average of 133 days on market in Mar 2024, up by 27.2% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Summary: During March 2024, 7 homes were sold in Mountain City; 0% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 71% of homes were sold over 90 days.