Is Spring City, 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, Spring City has remained a Neutral Market.
Key Takeaway
Spring City 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 Spring City, TN
How much do homes in Spring City, TN cost?
Median Sold Price
$337,000
$195/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Spring City have sold for 14.2% more than they did a year ago.
Summary: The median home sold price in Spring City was $337,000 in March 2024, up 14.2% from last year, and the median price per square foot was $195.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $332.4K | $720K | +116.6% |
| 2 Bedrooms | $200K | $205K | +2.5% |
| 3 Bedrooms | $256.2K | $295K | +15.1% |
| 4 Bedrooms | $625K | $425K | -32.0% |
| 5+ Bedrooms | $599K | $467.4K | -22.0% |
Summary: Spring City housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 116.6%, 2 bedroom homes increased by 2.5%, 3 bedroom homes increased by 15.1%, 4 bedroom homes decreased by 32%, and 5+ bedroom homes decreased by 22%.
Housing Supply in Spring City, TN
How many homes are available in Spring City, TN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 48 | 55 | +14.6% |
Summary: The Spring City real estate market had 55 homes for sale in March 2024, a 14.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 3 | +50.0% |
| 3 Bedrooms | 27 | 35 | +29.6% |
| 4 Bedrooms | 12 | 11 | -8.3% |
| 5+ Bedrooms | 7 | 6 | -14.3% |
Summary: The Spring City 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 50%, 3 bedroom homes increased by 29.6%, 4 bedroom homes decreased by 8.3%, and 5+ bedroom homes decreased by 14.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 9 | 8 | -11.1% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Spring City, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in Spring City in March 2024, down by 11.1% month-over-month. Of the 8 sold homes, 50% were sold under asking, 38% were sold at asking, and 13% were sold over asking.
Days on Market for Spring City, TN
How long does it take to sell a home in Spring City, TN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 118 Days | 51 Days | -56.6% |
Summary: Homes in Spring City had an average of 51 days on market in Mar 2024, down by 56.6% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Spring City are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 8 homes were sold in Spring City; 38% of homes were sold within 30 days, 0% 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. 
Listings courtesy of RealTracs Middle Tennessee Regional MLS as distributed by MLS GRID.
© 2024 of the REALTRACS MLS. All rights Reserved.