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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Monroe County is a seller's market

Buyer's
Market

Difference Since April 2023

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

Key Takeaway

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

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

+$39,600(+15.2%)

Key Takeaway

Homes in Monroe County have sold for 15.2% more than they did a year ago.

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

# BEDSApr 2023Apr 2024CHANGE
1 $200K$160K
-20.0%
2 $193K$234.9K
+21.8%
3 $270K$300K
+11.1%
4 $340K$389.9K
+14.7%
5+ $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
+20.3%
Monroe County
+15.2%
Cherokee County
+8.4%
McMinn County
+3.4%

Housing Supply in Monroe County, TN

How many homes are available in Monroe County, TN?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
252264+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

# BEDSMar 2024Apr 2024CHANGE
1 33
0.0%
2 4345
+4.7%
3 153155
+1.3%
4 3740
+8.1%
5+ 1621
+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 2024Apr 2024CHANGE
5149-3.9%

Asking Price vs. Sold Price

30 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

12 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Monroe County, you may be able to get a good deal. 61.2% of homes here sold below asking price last month.

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 2023Apr 2024CHANGE
72 Days65 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

Breakdown of Home Sale Times

Key Takeaway

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

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.

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

Report Updated 3 Days Ago

Newest Listings in Monroe County, TN

Nearby Markets to Monroe County, TN

What housing markets are near Monroe County, TN?