Is Townsend, 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, Townsend has remained a Seller's Market.
Key Takeaway
Townsend is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Townsend, TN
How much do homes in Townsend, TN cost?
Median Sold Price
$400,000
$284/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Townsend have sold for 17.1% less than they did a year ago.
Summary: The median home sold price in Townsend was $400,000 in March 2024, down 17.1% from last year, and the median price per square foot was $284.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $455K | $278K | -38.9% |
| 2 Bedrooms | $390.2K | $401K | +2.8% |
| 3 Bedrooms | $610K | $470K | -23.0% |
| 4 Bedrooms | $607K | $730K | +20.3% |
| 5+ Bedrooms | $515K | $900K | +74.8% |
Summary: Townsend housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 38.9%, 2 bedroom homes increased by 2.8%, 3 bedroom homes decreased by 23%, 4 bedroom homes increased by 20.3%, and 5+ bedroom homes increased by 74.8%.
Housing Supply in Townsend, TN
How many homes are available in Townsend, TN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 46 | 54 | +17.4% |
Summary: The Townsend real estate market had 54 homes for sale in March 2024, a 17.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 6 | +100.0% |
| 2 Bedrooms | 23 | 28 | +21.7% |
| 3 Bedrooms | 14 | 13 | -7.1% |
| 4 Bedrooms | 2 | 3 | +50.0% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The Townsend 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 21.7%, 3 bedroom homes decreased by 7.1%, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 3 | 10 | +233.3% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Townsend, you may be able to get a good deal. 70% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in Townsend in March 2024, up by 233.3% month-over-month. Of the 10 sold homes, 70% were sold under asking, 10% were sold at asking, and 20% were sold over asking.
Days on Market for Townsend, TN
How long does it take to sell a home in Townsend, TN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 35 Days | 95 Days | +168.6% |
Summary: Homes in Townsend had an average of 95 days on market in Mar 2024, up by 168.6% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Townsend are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 10 homes were sold in Townsend; 40% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 40% 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®.