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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Morgan County is a buyer's market

Buyer's
Market

Difference Since April 2023

At the same time last year, Morgan County was a Seller's Market.

Key Takeaway

Morgan County is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Morgan County, TN

How much do homes in Morgan County, TN cost?

Median Sold Price

$240,000

$161/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$35,000(+17.1%)

Key Takeaway

Homes in Morgan County have sold for 17.1% more than they did a year ago.

Summary: The median home sold price in Morgan County was $240,000 in April 2024, up 17.1% from last year, and the median price per square foot was $161.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $132.9K$154.5K
+16.2%
2 $162.5K$152.2K
-6.3%
3 $205K$240K
+17.1%
4 $287.5K$357.5K
+24.3%
5+ $230K$447K
+94.3%

Summary: Morgan County housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 16.2%, 2 bedroom homes decreased by 6.3%, 3 bedroom homes increased by 17.1%, 4 bedroom homes increased by 24.3%, and 5+ bedroom homes increased by 94.3%.

Median Sold Price Compared To Nearby Counties

Morgan County
+17.1%
Roane County
+10.7%
Cumberland County
+5.9%
Scott County
+5.3%
Fentress County
+4.4%

Housing Supply in Morgan County, TN

How many homes are available in Morgan County, TN?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
3337+12.1%

Summary: The Morgan County real estate market had 37 homes for sale in April 2024, a 12.1% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 23
+50.0%
2 34
+33.3%
3 2323
0.0%
4 36
+100.0%
5+ 21
-50.0%

Summary: The Morgan County housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 33.3%, 3 bedroom homes remained the same, 4 bedroom homes increased by 100%, and 5+ bedroom homes decreased by 50%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
75-28.6%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Morgan County, you may be able to get a good deal. 40% of homes here sold below asking price last month.

Summary: A total of 5 homes were sold or pending in Morgan County in April 2024, down by 28.6% month-over-month. Of the 5 sold homes, 40% were sold under asking, 40% were sold at asking, and 20% were sold over asking.

Days on Market for Morgan County, TN

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

Average Sale Time

Apr 2023Apr 2024CHANGE
85 Days99 Days+16.4%

Summary: Homes in Morgan County had an average of 99 days on market in Apr 2024, up by 16.4% compared to last year.

Breakdown of Home Sale Times

0 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

Most homes in Morgan County are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During April 2024, 5 homes were sold in Morgan County; 0% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 60% 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 Morgan County, TN

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