Is Polk County, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
At the same time last year, Polk County was a Seller's Market.
Housing Prices in Polk County, TN
How much do homes in Polk County, TN cost?
Median Sold Price
$279,950
$163/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in Polk County was $279,950 in February 2024, down 9.7% from last year, and the median price per square foot was $163.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $220.3K | $100.3K | -54.5% |
2 Bedrooms | $190K | $181K | -4.7% |
3 Bedrooms | $279.9K | $289K | +3.3% |
4 Bedrooms | $371K | $420K | +13.2% |
5+ Bedrooms | $420K | $299.9K | -28.6% |
Summary: Polk County housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 54.5%, 2 bedroom homes decreased by 4.7%, 3 bedroom homes increased by 3.3%, 4 bedroom homes increased by 13.2%, and 5+ bedroom homes decreased by 28.6%.
Median Sold Price Compared To Nearby Counties
Monroe County | $256K | $302.5K | +18.2% |
McMinn County | $232.5K | $249.7K | +7.4% |
Bradley County | $286.3K | $301.6K | +5.4% |
Fannin County | $575.9K | $564K | -2.1% |
Polk County | $310K | $279.9K | -9.7% |
Housing Supply in Polk County, TN
How many homes are available in Polk County, TN?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
69 | 83 | +20.3% |
Summary: The Polk County real estate market had 83 homes for sale in February 2024, a 20.3% increase compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 5 | 5 | 0.0% |
2 Bedrooms | 9 | 13 | +44.4% |
3 Bedrooms | 31 | 35 | +12.9% |
4 Bedrooms | 16 | 19 | +18.8% |
5+ Bedrooms | 8 | 11 | +37.5% |
Summary: The Polk County housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 44.4%, 3 bedroom homes increased by 12.9%, 4 bedroom homes increased by 18.8%, and 5+ bedroom homes increased by 37.5%.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
8 | 6 | -25.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 6 homes were sold or pending in Polk County in February 2024, down by 25.0% month-over-month. Of the 6 sold homes, 33% were sold under asking, 50% were sold at asking, and 17% were sold over asking.
Days on Market for Polk County, TN
How long does it take to sell a home in Polk County, TN?
Average Sale Time
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
139 Days | 59 Days | -57.8% |
Summary: Homes in Polk County had an average of 59 days on market in Feb 2024, down by 57.8% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During February 2024, 6 homes were sold in Polk County; 17% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.