Is Monroe County, 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, Monroe County has remained a Seller's Market.
Housing Prices in Monroe County, TN
How much do homes in Monroe County, TN cost?
Median Sold Price
$300,000
$185/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Monroe County was $300,000 in April 2024, up 15.2% from last year, and the median price per square foot was $185.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $200K | $160K | -20.0% |
2 Bedrooms | $193K | $234.9K | +21.8% |
3 Bedrooms | $270K | $300K | +11.1% |
4 Bedrooms | $340K | $389.9K | +14.7% |
5+ Bedrooms | $575K | $646.2K | +12.4% |
Summary: Monroe County housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 20%, 2 bedroom homes increased by 21.8%, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 14.7%, and 5+ bedroom homes increased by 12.4%.
Median Sold Price Compared To Nearby Counties
Loudon County | $400.9K | $482.4K | +20.3% |
Monroe County | $260.4K | $300K | +15.2% |
Cherokee County | $299.9K | $325K | +8.4% |
McMinn County | $239.9K | $248.1K | +3.4% |
Housing Supply in Monroe County, TN
How many homes are available in Monroe County, TN?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
252 | 264 | +4.8% |
Summary: The Monroe County real estate market had 264 homes for sale in April 2024, a 4.8% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 3 | 0.0% |
2 Bedrooms | 43 | 45 | +4.7% |
3 Bedrooms | 153 | 155 | +1.3% |
4 Bedrooms | 37 | 40 | +8.1% |
5+ Bedrooms | 16 | 21 | +31.3% |
Summary: The Monroe 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 4.7%, 3 bedroom homes increased by 1.3%, 4 bedroom homes increased by 8.1%, and 5+ bedroom homes increased by 31.3%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
51 | 49 | -3.9% |
Asking Price vs. Sold Price
30 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Summary: A total of 49 homes were sold or pending in Monroe County in April 2024, down by 3.9% month-over-month. Of the 49 sold homes, 61% were sold under asking, 14% were sold at asking, and 24% were sold over asking.
Days on Market for Monroe County, TN
How long does it take to sell a home in Monroe County, TN?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
72 Days | 65 Days | -9.8% |
Summary: Homes in Monroe County had an average of 65 days on market in Apr 2024, down by 9.8% compared to last year.
Breakdown of Home Sale Times
22 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
11 Homes Were Sold
Over 90 Days
Summary: During April 2024, 49 homes were sold in Monroe County; 45% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 22% of homes were sold over 90 days.