Is Mountain City, 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, Mountain City was a Buyer's Market.
Housing Prices in Mountain City, TN
How much do homes in Mountain City, TN cost?
Median Sold Price
$225,000
$167/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Mountain City was $225,000 in April 2024, down 10% from last year, and the median price per square foot was $167.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $165K | $117K | -29.1% |
2 Bedrooms | $265.9K | $211.9K | -20.3% |
3 Bedrooms | $250K | $217.5K | -13.0% |
4 Bedrooms | $289.5K | $355K | +22.6% |
5+ Bedrooms | $250K | $650K | +160.0% |
Summary: Mountain City housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 29.1%, 2 bedroom homes decreased by 20.3%, 3 bedroom homes decreased by 13%, 4 bedroom homes increased by 22.6%, and 5+ bedroom homes increased by 160%.
Housing Supply in Mountain City, TN
How many homes are available in Mountain City, TN?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
46 | 55 | +19.6% |
Summary: The Mountain City real estate market had 55 homes for sale in April 2024, a 19.6% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 3 | 0.0% |
2 Bedrooms | 6 | 8 | +33.3% |
3 Bedrooms | 27 | 34 | +25.9% |
4 Bedrooms | 9 | 10 | +11.1% |
5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The Mountain City 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 33.3%, 3 bedroom homes increased by 25.9%, 4 bedroom homes increased by 11.1%, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
7 | 12 | +71.4% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 12 homes were sold or pending in Mountain City in April 2024, up by 71.4% month-over-month. Of the 12 sold homes, 58% were sold under asking, 33% were sold at asking, and 8% were sold over asking.
Days on Market for Mountain City, TN
How long does it take to sell a home in Mountain City, TN?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
110 Days | 100 Days | -9.3% |
Summary: Homes in Mountain City had an average of 100 days on market in Apr 2024, down by 9.3% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Summary: During April 2024, 12 homes were sold in Mountain City; 25% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 42% of homes were sold over 90 days.