Is Lenoir City, 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, Lenoir City has remained a Seller's Market.
Housing Prices in Lenoir City, TN
How much do homes in Lenoir City, TN cost?
Median Sold Price
$396,633
$209/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Lenoir City was $396,633 in April 2024, up 17.6% from last year, and the median price per square foot was $209.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $100K | N/A |
2 Bedrooms | $273.6K | $314K | +14.8% |
3 Bedrooms | $328.6K | $374.7K | +14.0% |
4 Bedrooms | $480.2K | $537.2K | +11.9% |
5+ Bedrooms | $549K | $656.5K | +19.6% |
Summary: Lenoir City 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 14.8%, 3 bedroom homes increased by 14%, 4 bedroom homes increased by 11.9%, and 5+ bedroom homes increased by 19.6%.
Housing Supply in Lenoir City, TN
How many homes are available in Lenoir City, TN?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
154 | 167 | +8.4% |
Summary: The Lenoir City real estate market had 167 homes for sale in April 2024, a 8.4% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 0 | -100.0% |
2 Bedrooms | 22 | 18 | -18.2% |
3 Bedrooms | 78 | 85 | +9.0% |
4 Bedrooms | 43 | 49 | +14.0% |
5+ Bedrooms | 10 | 15 | +50.0% |
Summary: The Lenoir City housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 18.2%, 3 bedroom homes increased by 9%, 4 bedroom homes increased by 14%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
35 | 41 | +17.1% |
Asking Price vs. Sold Price
24 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Summary: A total of 41 homes were sold or pending in Lenoir City in April 2024, up by 17.1% month-over-month. Of the 41 sold homes, 59% were sold under asking, 24% were sold at asking, and 17% were sold over asking.
Days on Market for Lenoir City, TN
How long does it take to sell a home in Lenoir City, TN?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
25 Days | 30 Days | +20.2% |
Summary: Homes in Lenoir City had an average of 30 days on market in Apr 2024, up by 20.2% compared to last year.
Breakdown of Home Sale Times
27 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During April 2024, 41 homes were sold in Lenoir City; 66% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.