Is Polk 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, Polk County was a Seller's Market.
Housing Prices in Polk County, TN
How much do homes in Polk County, TN cost?
Median Sold Price
$280,000
$163/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Polk County was $280,000 in April 2024, up 0.2% from last year, and the median price per square foot was $163.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $315.7K | $100.3K | -68.2% |
2 Bedrooms | $188K | $184.9K | -1.6% |
3 Bedrooms | $259.9K | $295K | +13.5% |
4 Bedrooms | $372K | $370K | -0.5% |
5+ Bedrooms | $422.9K | $304.9K | -27.9% |
Summary: Polk County housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 68.2%, 2 bedroom homes decreased by 1.6%, 3 bedroom homes increased by 13.5%, 4 bedroom homes decreased by 0.5%, and 5+ bedroom homes decreased by 27.9%.
Median Sold Price Compared To Nearby Counties
Monroe County | $260.4K | $300K | +15.2% |
Bradley County | $294.2K | $309.2K | +5.1% |
McMinn County | $239.9K | $248.1K | +3.4% |
Polk County | $279.4K | $280K | 0.2% |
Fannin County | $581.5K | $575K | -1.1% |
Housing Supply in Polk County, TN
How many homes are available in Polk County, TN?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
85 | 99 | +16.5% |
Summary: The Polk County real estate market had 99 homes for sale in April 2024, a 16.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 4 | 0.0% |
2 Bedrooms | 15 | 22 | +46.7% |
3 Bedrooms | 38 | 40 | +5.3% |
4 Bedrooms | 17 | 18 | +5.9% |
5+ Bedrooms | 11 | 15 | +36.4% |
Summary: The Polk 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 46.7%, 3 bedroom homes increased by 5.3%, 4 bedroom homes increased by 5.9%, and 5+ bedroom homes increased by 36.4%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
9 | 11 | +22.2% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 11 homes were sold or pending in Polk County in April 2024, up by 22.2% month-over-month. Of the 11 sold homes, 36% were sold under asking, 64% were sold at asking, and 0% were sold over asking.
Days on Market for Polk County, TN
How long does it take to sell a home in Polk County, TN?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
28 Days | 46 Days | +59.7% |
Summary: Homes in Polk County had an average of 46 days on market in Apr 2024, up by 59.7% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 11 homes were sold in Polk County; 27% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.