Is Roane County, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Roane County is a neutral's market

Buyer's
Market

Difference Since February 2023

At the same time last year, Roane County was a Seller's Market.

Key Takeaway

Roane County is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Roane County, TN

How much do homes in Roane County, TN cost?

Median Sold Price

$249,393

$162/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$14,393(+6.1%)

Key Takeaway

Homes in Roane County have sold for 6.1% more than they did a year ago.

Summary: The median home sold price in Roane County was $249,393 in February 2024, up 6.1% from last year, and the median price per square foot was $162.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $138.5K$129K
-6.9%
2 $159K$188.4K
+18.5%
3 $246.2K$250K
+1.5%
4 $300.5K$324.9K
+8.1%
5+ $348K$525K
+50.9%

Summary: Roane County housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 6.9%, 2 bedroom homes increased by 18.5%, 3 bedroom homes increased by 1.5%, 4 bedroom homes increased by 8.1%, and 5+ bedroom homes increased by 50.9%.

Median Sold Price Compared To Nearby Counties

Loudon County
+17.4%
Rhea County
+10.8%
Morgan County
+10.0%
Cumberland County
+6.8%
Roane County
+6.1%

Housing Supply in Roane County, TN

How many homes are available in Roane County, TN?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
211223+5.7%

Summary: The Roane County real estate market had 223 homes for sale in February 2024, a 5.7% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 43
-25.0%
2 3844
+15.8%
3 107113
+5.6%
4 5050
0.0%
5+ 1213
+8.3%

Summary: The Roane County housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes increased by 15.8%, 3 bedroom homes increased by 5.6%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 8.3%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
4233-21.4%

Asking Price vs. Sold Price

19 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Roane County, you may be able to get a good deal. 57.6% of homes here sold below asking price last month.

Summary: A total of 33 homes were sold or pending in Roane County in February 2024, down by 21.4% month-over-month. Of the 33 sold homes, 58% were sold under asking, 24% were sold at asking, and 18% were sold over asking.

Days on Market for Roane County, TN

We’re sorry, we don't have information for this market at the moment

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 2 Days Ago

Newest Listings in Roane County, TN

Nearby Markets to Roane County, TN

What housing markets are near Roane County, TN?