Is Red Bank, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Red Bank is a seller's market

Buyer's
Market

Difference Since September 2023

Since last year, Red Bank has remained a Seller's Market.

Key Takeaway

Red Bank is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Red Bank, TN

How much do homes in Red Bank, TN cost?

Median Sold Price

$330,000

$224/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$25,000(+8.2%)

Key Takeaway

Homes in Red Bank have sold for 8.2% more than they did a year ago.

Summary: The median home sold price in Red Bank was $330,000 in September 2024, up 8.2% from last year, and the median price per square foot was $224.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $197K$225K
+14.2%
2 $230.8K$249.5K
+8.1%
3 $327.5K$363.7K
+11.1%
4 $432K$435K
+0.7%
5+ $471.9K$425K
-9.9%

Summary: Red Bank housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.2%, 2 bedroom homes increased by 8.1%, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 0.7%, and 5+ bedroom homes decreased by 9.9%.

Median Sold Price Compared To Nearby Cities

Red Bank
+8.2%
Chattanooga
+2.8%

Housing Supply in Red Bank, TN

How many homes are available in Red Bank, TN?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
7570-6.7%

Summary: The Red Bank real estate market had 70 homes for sale in September 2024, a 6.7% decrease compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 21
-50.0%
2 1613
-18.8%
3 4039
-2.5%
4 1313
0.0%
5+ 44
0.0%

Summary: The Red Bank housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 18.8%, 3 bedroom homes decreased by 2.5%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
2019-5.0%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

9 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Red Bank, expect to pay close to the asking price. 47.4% of homes here sold near the asking price last month.

Summary: A total of 19 homes were sold or pending in Red Bank in September 2024, down by 5.0% month-over-month. Of the 19 sold homes, 37% were sold under asking, 47% were sold at asking, and 16% were sold over asking.

Days on Market for Red Bank, TN

How long does it take to sell a home in Red Bank, TN?

Average Sale Time

Sep 2023Sep 2024CHANGE
23 Days40 Days+68.1%

Summary: Homes in Red Bank had an average of 40 days on market in Sep 2024, up by 68.1% 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 Red Bank has remained consistent over time.

Summary: During September 2024, 19 homes were sold in Red Bank; 0% of homes were sold within 30 days, 5% 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 30 Days Ago

Newest Listings in Red Bank, TN

Nearby Markets to Red Bank, TN

What housing markets are near Red Bank, TN?