Is New Tazewell, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing New Tazewell is a neutral's market

Buyer's
Market

Difference Since September 2023

Since last year, New Tazewell has remained a Neutral Market.

Key Takeaway

New Tazewell is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in New Tazewell, TN

How much do homes in New Tazewell, TN cost?

Median Sold Price

$280,000

$172/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

-$10,000(-3.4%)

Key Takeaway

Homes in New Tazewell have sold for 3.4% less than they did a year ago.

Summary: The median home sold price in New Tazewell was $280,000 in September 2024, down 3.4% from last year, and the median price per square foot was $172.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 -$55K
N/A
2 $295K$223K
-24.4%
3 $279.5K$255K
-8.8%
4 $371K$545K
+46.9%
5+ $295K$605K
+105.1%

Summary: New Tazewell housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 24.4%, 3 bedroom homes decreased by 8.8%, 4 bedroom homes increased by 46.9%, and 5+ bedroom homes increased by 105.1%.

Median Sold Price Compared To Nearby Cities

Tazewell
+9.3%
New Tazewell
-3.4%

Housing Supply in New Tazewell, TN

How many homes are available in New Tazewell, TN?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
5047-6.0%

Summary: The New Tazewell real estate market had 47 homes for sale in September 2024, a 6.0% decrease compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 11
0.0%
2 53
-40.0%
3 3233
+3.1%
4 86
-25.0%
5+ 44
0.0%

Summary: The New Tazewell housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 40%, 3 bedroom homes increased by 3.1%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
67+16.7%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in New Tazewell, you may be able to get a good deal. 71.4% of homes here sold below asking price last month.

Summary: A total of 7 homes were sold or pending in New Tazewell in September 2024, up by 16.7% month-over-month. Of the 7 sold homes, 71% were sold under asking, 14% were sold at asking, and 14% were sold over asking.

Days on Market for New Tazewell, TN

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

Average Sale Time

Sep 2023Sep 2024CHANGE
187 Days71 Days-61.8%

Summary: Homes in New Tazewell had an average of 71 days on market in Sep 2024, down by 61.8% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During September 2024, 7 homes were sold in New Tazewell; 57% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 29% 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 30 Days Ago

Newest Listings in New Tazewell, TN

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