Is Meigs County, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Meigs County is a seller's market

Buyer's
Market

Difference Since April 2023

Since last year, Meigs County has remained a Seller's Market.

Key Takeaway

Meigs County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Meigs County, TN

How much do homes in Meigs County, TN cost?

Median Sold Price

$325,000

$193/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

-$125(0%)

Key Takeaway

The sold price of homes in Meigs County has remained the same since last year.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $205K$279.9K
+36.5%
2 $175K$217.5K
+24.3%
3 $325.1K$332.5K
+2.3%
4 $430K$460K
+7.0%
5+ $712.5K$350K
-50.9%

Summary: Meigs County housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 36.5%, 2 bedroom homes increased by 24.3%, 3 bedroom homes increased by 2.3%, 4 bedroom homes increased by 7%, and 5+ bedroom homes decreased by 50.9%.

Median Sold Price Compared To Nearby Counties

Bradley County
+5.1%
McMinn County
+3.4%
Rhea County
+3.0%
Hamilton County
+2.2%
Meigs County
0%

Housing Supply in Meigs County, TN

How many homes are available in Meigs County, TN?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
8087+8.8%

Summary: The Meigs County real estate market had 87 homes for sale in April 2024, a 8.8% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 00
0.0%
2 911
+22.2%
3 4953
+8.2%
4 2021
+5.0%
5+ 22
0.0%

Summary: The Meigs County 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 22.2%, 3 bedroom homes increased by 8.2%, 4 bedroom homes increased by 5%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
1316+23.1%

Asking Price vs. Sold Price

14 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Meigs County, you may be able to get a good deal. 87.5% of homes here sold below asking price last month.

Summary: A total of 16 homes were sold or pending in Meigs County in April 2024, up by 23.1% month-over-month. Of the 16 sold homes, 88% were sold under asking, 6% were sold at asking, and 6% were sold over asking.

Days on Market for Meigs County, TN

How long does it take to sell a home in Meigs County, TN?

Average Sale Time

Apr 2023Apr 2024CHANGE
94 Days55 Days-41.0%

Summary: Homes in Meigs County had an average of 55 days on market in Apr 2024, down by 41% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Meigs County are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 16 homes were sold in Meigs County; 31% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 19% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 2 Days Ago

Newest Listings in Meigs County, TN

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