Is Union County, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Union County was a Seller's Market.
Key Takeaway
Union County is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Union County, TN
How much do homes in Union County, TN cost?
Median Sold Price
$307,000
$199/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Union County have sold for 7.7% more than they did a year ago.
Summary: The median home sold price in Union County was $307,000 in May 2024, up 7.7% from last year, and the median price per square foot was $199.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $118.2K | N/A |
| 2 Bedrooms | $235K | $223.9K | -4.7% |
| 3 Bedrooms | $289.5K | $301K | +4.0% |
| 4 Bedrooms | $347K | $439.9K | +26.8% |
| 5+ Bedrooms | $649.9K | $314.1K | -51.7% |
Summary: Union County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 4.7%, 3 bedroom homes increased by 4%, 4 bedroom homes increased by 26.8%, and 5+ bedroom homes decreased by 51.7%.
Median Sold Price Compared To Nearby Counties
| Anderson County | $290.7K | $328.4K | +12.9% |
| Union County | $285K | $307K | +7.7% |
| Claiborne County | $227.2K | $240K | +5.6% |
| Campbell County | $222K | $232.7K | +4.8% |
| Grainger County | $279.9K | $265K | -5.3% |
Housing Supply in Union County, TN
How many homes are available in Union County, TN?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 84 | 75 | -10.7% |
Summary: The Union County real estate market had 75 homes for sale in May 2024, a 10.7% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 2 | -50.0% |
| 2 Bedrooms | 4 | 7 | +75.0% |
| 3 Bedrooms | 50 | 46 | -8.0% |
| 4 Bedrooms | 22 | 16 | -27.3% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The Union County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 75%, 3 bedroom homes decreased by 8%, 4 bedroom homes decreased by 27.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 19 | 11 | -42.1% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Union County, you could pay more than the asking price. 45.5% of homes here sold above asking price last month.
Summary: A total of 11 homes were sold or pending in Union County in May 2024, down by 42.1% month-over-month. Of the 11 sold homes, 27% were sold under asking, 27% were sold at asking, and 45% were sold over asking.
Days on Market for Union County, TN
How long does it take to sell a home in Union County, TN?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 11 Days | 29 Days | +148.5% |
Summary: Homes in Union County had an average of 29 days on market in May 2024, up by 148.5% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Union County are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 11 homes were sold in Union County; 82% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Knoxville Area Association of REALTORS® Multiple Listing Service. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some or all of the listings may not belong to the firm whose website is being visited. Real estate listings held by brokerage firms other than this broker are indicated by detailed information about them such as the name of the listing firms.