Is Pigeon Forge, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Pigeon Forge is a buyer's market

Buyer's
Market

Difference Since September 2023

Since last year, Pigeon Forge has remained a Buyer's Market.

Key Takeaway

Pigeon Forge is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Pigeon Forge, TN

How much do homes in Pigeon Forge, TN cost?

Median Sold Price

$550,009

$356/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$9,509(+1.8%)

Key Takeaway

Homes in Pigeon Forge have sold for 1.8% more than they did a year ago.

Summary: The median home sold price in Pigeon Forge was $550,009 in September 2024, up 1.8% from last year, and the median price per square foot was $356.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $300K$360K
+20.0%
2 $470K$430K
-8.5%
3 $485K$551K
+13.6%
4 $864K$910K
+5.3%
5+ $949.9K$950K
0.0%

Summary: Pigeon Forge housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes increased by 20%, 2 bedroom homes decreased by 8.5%, 3 bedroom homes increased by 13.6%, 4 bedroom homes increased by 5.3%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Pigeon Forge
+1.8%
Sevierville
+0.8%

Housing Supply in Pigeon Forge, TN

How many homes are available in Pigeon Forge, TN?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
110126+14.5%

Summary: The Pigeon Forge real estate market had 126 homes for sale in September 2024, a 14.5% increase compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 1011
+10.0%
2 4143
+4.9%
3 2735
+29.6%
4 1716
-5.9%
5+ 1521
+40.0%

Summary: The Pigeon Forge housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 10%, 2 bedroom homes increased by 4.9%, 3 bedroom homes increased by 29.6%, 4 bedroom homes decreased by 5.9%, and 5+ bedroom homes increased by 40%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
990.0%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Pigeon Forge, you may be able to get a good deal. 88.9% of homes here sold below asking price last month.

Summary: A total of 9 homes were sold or pending in Pigeon Forge in September 2024, the same as the previous month. Of the 9 sold homes, 89% were sold under asking, 11% were sold at asking, and 0% were sold over asking.

Days on Market for Pigeon Forge, TN

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

Average Sale Time

Sep 2023Sep 2024CHANGE
47 Days62 Days+31.2%

Summary: Homes in Pigeon Forge had an average of 62 days on market in Sep 2024, up by 31.2% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During September 2024, 9 homes were sold in Pigeon Forge; 33% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 33% 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 Sep 1, 2024

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