Is Red Bank, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Red Bank has remained a Seller's Market.
Housing Prices in Red Bank, TN
How much do homes in Red Bank, TN cost?
Median Sold Price
$305,000
$215/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Red Bank was $305,000 in March 2024, down 4.2% from last year, and the median price per square foot was $215.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $197K | $148.5K | -24.6% |
2 Bedrooms | $250K | $230K | -8.0% |
3 Bedrooms | $325K | $349.4K | +7.5% |
4 Bedrooms | $433.7K | $420K | -3.2% |
5+ Bedrooms | $335K | $485K | +44.8% |
Summary: Red Bank housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 24.6%, 2 bedroom homes decreased by 8%, 3 bedroom homes increased by 7.5%, 4 bedroom homes decreased by 3.2%, and 5+ bedroom homes increased by 44.8%.
Median Sold Price Compared To Nearby Cities
Chattanooga | $310.7K | $325.3K | +4.7% |
Red Bank | $318.2K | $305K | -4.2% |
Housing Supply in Red Bank, TN
How many homes are available in Red Bank, TN?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
53 | 63 | +18.9% |
Summary: The Red Bank real estate market had 63 homes for sale in March 2024, a 18.9% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 1 | +100.0% |
2 Bedrooms | 16 | 20 | +25.0% |
3 Bedrooms | 25 | 27 | +8.0% |
4 Bedrooms | 8 | 10 | +25.0% |
5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The Red Bank housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 25%, 3 bedroom homes increased by 8%, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
15 | 20 | +33.3% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 20 homes were sold or pending in Red Bank in March 2024, up by 33.3% month-over-month. Of the 20 sold homes, 65% were sold under asking, 25% were sold at asking, and 10% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
27 Days | 5 Days | -81.5% |
Summary: Homes in Red Bank had an average of 5 days on market in Mar 2024, down by 81.5% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 20 homes were sold in Red Bank; 20% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.