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 February 2023

At the same time last year, Pigeon Forge was a Seller'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

$542,500

$377/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$41,100(+8.2%)

Key Takeaway

Homes in Pigeon Forge have sold for 8.2% more than they did a year ago.

Summary: The median home sold price in Pigeon Forge was $542,500 in February 2024, up 8.2% from last year, and the median price per square foot was $377.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $315K$336.2K
+6.7%
2 $462.5K$444.9K
-3.8%
3 $500K$444K
-11.2%
4 $974.5K$875K
-10.2%
5+ $957.5K$949.9K
-0.8%

Summary: Pigeon Forge housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.7%, 2 bedroom homes decreased by 3.8%, 3 bedroom homes decreased by 11.2%, 4 bedroom homes decreased by 10.2%, and 5+ bedroom homes decreased by 0.8%.

Median Sold Price Compared To Nearby Cities

Pigeon Forge
+8.2%
Sevierville
+2.9%

Housing Supply in Pigeon Forge, TN

How many homes are available in Pigeon Forge, TN?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
94107+13.8%

Summary: The Pigeon Forge real estate market had 107 homes for sale in February 2024, a 13.8% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 68
+33.3%
2 3035
+16.7%
3 1618
+12.5%
4 2528
+12.0%
5+ 1718
+5.9%

Summary: The Pigeon Forge housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes increased by 16.7%, 3 bedroom homes increased by 12.5%, 4 bedroom homes increased by 12%, and 5+ bedroom homes increased by 5.9%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
128-33.3%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

2 Homes Were 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. 75% of homes here sold below asking price last month.

Summary: A total of 8 homes were sold or pending in Pigeon Forge in February 2024, down by 33.3% month-over-month. Of the 8 sold homes, 75% were sold under asking, 25% 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

Feb 2023Feb 2024CHANGE
177 Days40 Days-77.4%

Summary: Homes in Pigeon Forge had an average of 40 days on market in Feb 2024, down by 77.4% compared to last year.

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Pigeon Forge has remained consistent over time.

Summary: During February 2024, 8 homes were sold in Pigeon Forge; 0% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 0% 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 3 Days Ago

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