Is Spring City, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Spring City has remained a Seller's Market.
Housing Prices in Spring City, TN
How much do homes in Spring City, TN cost?
Median Sold Price
$339,900
$195/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Spring City was $339,900 in April 2024, up 13.3% from last year, and the median price per square foot was $195.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $332.4K | $720K | +116.6% |
2 Bedrooms | $200K | $245K | +22.5% |
3 Bedrooms | $287.2K | $334.9K | +16.6% |
4 Bedrooms | $625K | $425K | -32.0% |
5+ Bedrooms | $824.5K | $467.4K | -43.3% |
Summary: Spring City housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 116.6%, 2 bedroom homes increased by 22.5%, 3 bedroom homes increased by 16.6%, 4 bedroom homes decreased by 32%, and 5+ bedroom homes decreased by 43.3%.
Housing Supply in Spring City, TN
How many homes are available in Spring City, TN?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
56 | 66 | +17.9% |
Summary: The Spring City real estate market had 66 homes for sale in April 2024, a 17.9% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 2 | +100.0% |
2 Bedrooms | 3 | 5 | +66.7% |
3 Bedrooms | 36 | 37 | +2.8% |
4 Bedrooms | 11 | 16 | +45.5% |
5+ Bedrooms | 6 | 6 | 0.0% |
Summary: The Spring City housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 66.7%, 3 bedroom homes increased by 2.8%, 4 bedroom homes increased by 45.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
8 | 18 | +125.0% |
Asking Price vs. Sold Price
16 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 18 homes were sold or pending in Spring City in April 2024, up by 125.0% month-over-month. Of the 18 sold homes, 89% were sold under asking, 0% were sold at asking, and 11% were sold over asking.
Days on Market for Spring City, TN
How long does it take to sell a home in Spring City, TN?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
51 Days | 80 Days | +57.1% |
Summary: Homes in Spring City had an average of 80 days on market in Apr 2024, up by 57.1% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During April 2024, 18 homes were sold in Spring City; 33% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 22% of homes were sold over 90 days.