Is Lookout Mountain, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Lookout Mountain was a Seller's Market.
Key Takeaway
Lookout Mountain 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 Lookout Mountain, TN
How much do homes in Lookout Mountain, TN cost?
Median Sold Price
$1,050,000
$275/sqft
Based on all homes sold in April 2024.
Difference Since Last Month
Key Takeaway
Homes in Lookout Mountain have sold for 12.5% less than they did a month ago.
Summary: The median home sold price in Lookout Mountain was $1,050,000 in April 2024, down 12.5% from last month, and the median price per square foot was $275.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | $1.2M | - | N/A |
| 4 Bedrooms | $1.1M | $1.0M | -8.7% |
| 5+ Bedrooms | - | - | N/A |
Summary: Lookout Mountain housing prices by bedroom type for April 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes did not change, 4 bedroom homes decreased by 8.7%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Lookout Mountain | $475K | $599K | +26.1% |
| Lookout Mountain | $1.2M | $1.0M | -12.5% |
Housing Supply in Lookout Mountain, TN
How many homes are available in Lookout Mountain, TN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 14 | 14 | 0.0% |
Summary: The Lookout Mountain real estate market had 14 homes for sale in April 2024, the same as March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 3 | 2 | -33.3% |
| 4 Bedrooms | 8 | 5 | -37.5% |
| 5+ Bedrooms | 2 | 6 | +200.0% |
Summary: The Lookout Mountain 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 remained the same, 3 bedroom homes decreased by 33.3%, 4 bedroom homes decreased by 37.5%, and 5+ bedroom homes increased by 200%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 6 | 2 | -66.7% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lookout Mountain, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Lookout Mountain in April 2024, down by 66.7% month-over-month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Lookout Mountain, TN
How long does it take to sell a home in Lookout Mountain, TN?
Average Sale Time
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 13 Days | 9 Days | -33.3% |
Summary: Homes in Lookout Mountain had an average of 9 days on market in Apr 2024, down by 33.3% compared to last month.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lookout Mountain are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 2 homes were sold in Lookout Mountain; 50% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Listings courtesy of RealTracs Middle Tennessee Regional MLS as distributed by MLS GRID.
© 2024 of the REALTRACS MLS. All rights Reserved.