Is Farragut, 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, Farragut has remained a Seller's Market.
Housing Prices in Farragut, TN
How much do homes in Farragut, TN cost?
Median Sold Price
$668,050
$219/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Farragut was $668,050 in April 2024, up 1.5% from last year, and the median price per square foot was $219.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $234K | - | N/A |
2 Bedrooms | $345K | $405.5K | +17.5% |
3 Bedrooms | $496.2K | $500K | +0.8% |
4 Bedrooms | $700.9K | $718.5K | +2.5% |
5+ Bedrooms | $849K | $865K | +1.9% |
Summary: Farragut 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 17.5%, 3 bedroom homes increased by 0.8%, 4 bedroom homes increased by 2.5%, and 5+ bedroom homes increased by 1.9%.
Median Sold Price Compared To Nearby Cities
Knoxville | $335.2K | $365.6K | +9.1% |
Farragut | $658.5K | $668K | +1.5% |
Housing Supply in Farragut, TN
How many homes are available in Farragut, TN?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
112 | 119 | +6.3% |
Summary: The Farragut real estate market had 119 homes for sale in April 2024, a 6.3% increase 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 | 3 | 4 | +33.3% |
3 Bedrooms | 22 | 21 | -4.5% |
4 Bedrooms | 59 | 62 | +5.1% |
5+ Bedrooms | 28 | 32 | +14.3% |
Summary: The Farragut 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 increased by 33.3%, 3 bedroom homes decreased by 4.5%, 4 bedroom homes increased by 5.1%, and 5+ bedroom homes increased by 14.3%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
33 | 33 | 0.0% |
Asking Price vs. Sold Price
16 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Summary: A total of 33 homes were sold or pending in Farragut in April 2024, the same as the previous month. Of the 33 sold homes, 48% were sold under asking, 21% were sold at asking, and 30% were sold over asking.
Days on Market for Farragut, TN
How long does it take to sell a home in Farragut, TN?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
32 Days | 46 Days | +45.4% |
Summary: Homes in Farragut had an average of 46 days on market in Apr 2024, up by 45.4% compared to last year.
Breakdown of Home Sale Times
25 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Summary: During April 2024, 33 homes were sold in Farragut; 76% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 18% of homes were sold over 90 days.