Is Morgan County, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Morgan County was a Seller's Market.
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
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
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $132.9K | $154.5K | +16.2% |
2 Bedrooms | $162.5K | $152.2K | -6.3% |
3 Bedrooms | $205K | $240K | +17.1% |
4 Bedrooms | $287.5K | $357.5K | +24.3% |
5+ Bedrooms | $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 | $205K | $240K | +17.1% |
Roane County | $234.3K | $259.3K | +10.7% |
Cumberland County | $299.7K | $317.3K | +5.9% |
Scott County | $199.5K | $210K | +5.3% |
Fentress County | $239.4K | $250K | +4.4% |
Housing Supply in Morgan County, TN
How many homes are available in Morgan County, TN?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
33 | 37 | +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
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 3 | +50.0% |
2 Bedrooms | 3 | 4 | +33.3% |
3 Bedrooms | 23 | 23 | 0.0% |
4 Bedrooms | 3 | 6 | +100.0% |
5+ Bedrooms | 2 | 1 | -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 2024 | Apr 2024 | CHANGE |
---|---|---|
7 | 5 | -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
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 2023 | Apr 2024 | CHANGE |
---|---|---|
85 Days | 99 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
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.