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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Polk County is a buyer's market

Buyer's
Market

Difference Since April 2023

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

Key Takeaway

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

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

+$550(+0.2%)

Key Takeaway

The sold price of homes in Polk County has remained the same since last year.

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

# BEDSApr 2023Apr 2024CHANGE
1 $315.7K$100.3K
-68.2%
2 $188K$184.9K
-1.6%
3 $259.9K$295K
+13.5%
4 $372K$370K
-0.5%
5+ $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
+15.2%
Bradley County
+5.1%
McMinn County
+3.4%
Polk County
0.2%
Fannin County
-1.1%

Housing Supply in Polk County, TN

How many homes are available in Polk County, TN?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
8599+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

# BEDSMar 2024Apr 2024CHANGE
1 44
0.0%
2 1522
+46.7%
3 3840
+5.3%
4 1718
+5.9%
5+ 1115
+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 2024Apr 2024CHANGE
911+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

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Polk County, expect to pay close to the asking price. 63.6% of homes here sold near the asking price last month.

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 2023Apr 2024CHANGE
28 Days46 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

Breakdown of Home Sale Times

Key Takeaway

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

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.

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

Report Updated 2 Days Ago

Newest Listings in Polk County, TN

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