Is Roane County, 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, Roane County has remained a Seller's Market.
Key Takeaway
Roane County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Roane County, TN
How much do homes in Roane County, TN cost?
Median Sold Price
$251,000
$162/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Roane County have sold for 6.7% more than they did a year ago.
Summary: The median home sold price in Roane County was $251,000 in March 2024, up 6.7% from last year, and the median price per square foot was $162.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $150K | $129K | -14.0% |
| 2 Bedrooms | $159.9K | $188.4K | +17.9% |
| 3 Bedrooms | $244.2K | $253.5K | +3.8% |
| 4 Bedrooms | $300K | $339K | +13.0% |
| 5+ Bedrooms | $349K | $525K | +50.4% |
Summary: Roane County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 14%, 2 bedroom homes increased by 17.9%, 3 bedroom homes increased by 3.8%, 4 bedroom homes increased by 13%, and 5+ bedroom homes increased by 50.4%.
Median Sold Price Compared To Nearby Counties
| Morgan County | $200K | $240K | +20.0% |
| Loudon County | $402.4K | $474.4K | +17.9% |
| Rhea County | $271.3K | $299K | +10.2% |
| Roane County | $235.2K | $251K | +6.7% |
| Cumberland County | $300K | $318.1K | +6.1% |
Housing Supply in Roane County, TN
How many homes are available in Roane County, TN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 207 | 239 | +15.5% |
Summary: The Roane County real estate market had 239 homes for sale in March 2024, a 15.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 4 | 0.0% |
| 2 Bedrooms | 43 | 55 | +27.9% |
| 3 Bedrooms | 108 | 124 | +14.8% |
| 4 Bedrooms | 41 | 45 | +9.8% |
| 5+ Bedrooms | 11 | 11 | 0.0% |
Summary: The Roane County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 27.9%, 3 bedroom homes increased by 14.8%, 4 bedroom homes increased by 9.8%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 35 | 54 | +54.3% |
Asking Price vs. Sold Price
30 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Roane County, you may be able to get a good deal. 55.6% of homes here sold below asking price last month.
Summary: A total of 54 homes were sold or pending in Roane County in March 2024, up by 54.3% month-over-month. Of the 54 sold homes, 56% were sold under asking, 20% were sold at asking, and 24% were sold over asking.
Days on Market for Roane County, TN
How long does it take to sell a home in Roane County, TN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 48 Days | 54 Days | +11.1% |
Summary: Homes in Roane County had an average of 54 days on market in Mar 2024, up by 11.1% compared to last year.
Breakdown of Home Sale Times
26 Homes Were Sold
Under 30 Days
15 Homes Were Sold
In 30 - 90 Days
12 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Roane County are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 54 homes were sold in Roane County; 48% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 22% of homes were sold over 90 days.
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Knoxville Area Association of REALTORS® Multiple Listing Service. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some or all of the listings may not belong to the firm whose website is being visited. Real estate listings held by brokerage firms other than this broker are indicated by detailed information about them such as the name of the listing firms. 
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Greater Chattanooga Association of Realtors®. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Copyright© 2024 Greater Chattanooga Association of REALTORS®.
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