Is Tellico Plains, 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, Tellico Plains was a Seller's Market.
Housing Prices in Tellico Plains, TN
How much do homes in Tellico Plains, TN cost?
Median Sold Price
$279,150
$178/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Tellico Plains was $279,150 in April 2024, up 11.1% from last year, and the median price per square foot was $178.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $195K | $779K | +299.5% |
2 Bedrooms | $215K | $279.1K | +29.8% |
3 Bedrooms | $305K | $248K | -18.7% |
4 Bedrooms | $290K | $348.7K | +20.3% |
5+ Bedrooms | $372K | - | N/A |
Summary: Tellico Plains housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 299.5%, 2 bedroom homes increased by 29.8%, 3 bedroom homes decreased by 18.7%, 4 bedroom homes increased by 20.3%, and 5+ bedroom homes did not change.
Housing Supply in Tellico Plains, TN
How many homes are available in Tellico Plains, TN?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
48 | 57 | +18.8% |
Summary: The Tellico Plains real estate market had 57 homes for sale in April 2024, a 18.8% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 12 | 17 | +41.7% |
3 Bedrooms | 28 | 31 | +10.7% |
4 Bedrooms | 4 | 5 | +25.0% |
5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Tellico Plains 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 41.7%, 3 bedroom homes increased by 10.7%, 4 bedroom homes increased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
10 | 5 | -50.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 5 homes were sold or pending in Tellico Plains in April 2024, down by 50.0% month-over-month. Of the 5 sold homes, 60% were sold under asking, 20% were sold at asking, and 20% were sold over asking.
Days on Market for Tellico Plains, TN
How long does it take to sell a home in Tellico Plains, TN?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
72 Days | 15 Days | -78.7% |
Summary: Homes in Tellico Plains had an average of 15 days on market in Apr 2024, down by 78.7% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 5 homes were sold in Tellico Plains; 60% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.