Is Royal Oaks, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Royal Oaks has remained a Seller's Market.
Key Takeaway
Royal Oaks is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Royal Oaks, TN
How much do homes in Royal Oaks, TN cost?
Median Sold Price
$449,450
$206/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Royal Oaks have sold for 2.3% less than they did a year ago.
Summary: The median home sold price in Royal Oaks was $449,450 in April 2024, down 2.3% from last year, and the median price per square foot was $206.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $370K | $372.5K | +0.7% |
| 3 Bedrooms | $432.5K | $443.4K | +2.5% |
| 4 Bedrooms | $584.5K | $530K | -9.3% |
| 5+ Bedrooms | $805K | $649.5K | -19.3% |
Summary: Royal Oaks housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 0.7%, 3 bedroom homes increased by 2.5%, 4 bedroom homes decreased by 9.3%, and 5+ bedroom homes decreased by 19.3%.
Housing Supply in Royal Oaks, TN
How many homes are available in Royal Oaks, TN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 16 | 10 | -37.5% |
Summary: The Royal Oaks real estate market had 10 homes for sale in April 2024, a 37.5% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 0 | -100.0% |
| 3 Bedrooms | 8 | 5 | -37.5% |
| 4 Bedrooms | 4 | 3 | -25.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Royal Oaks housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 100%, 3 bedroom homes decreased by 37.5%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 4 | 4 | 0.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Royal Oaks, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Royal Oaks in April 2024, the same as the previous month. Of the 3 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% were sold over asking.
Days on Market for Royal Oaks, TN
How long does it take to sell a home in Royal Oaks, TN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 27 Days | 41 Days | +52.8% |
Summary: Homes in Royal Oaks had an average of 41 days on market in Apr 2024, up by 52.8% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Royal Oaks are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 4 homes were sold in Royal Oaks; 50% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 25% 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.