Is Georgetown, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Georgetown is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Georgetown has remained a Seller's Market.

Key Takeaway

Georgetown is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Georgetown, TN

How much do homes in Georgetown, TN cost?

Median Sold Price

$377,202

$218/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

-$52,798(-12.3%)

Key Takeaway

Homes in Georgetown have sold for 12.3% less than they did a year ago.

Summary: The median home sold price in Georgetown was $377,202 in May 2024, down 12.3% from last year, and the median price per square foot was $218.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 --
N/A
2 -$247.9K
N/A
3 $380.2K$378.6K
-0.4%
4 $1.0M$1.2M
+15.7%
5+ $705K$465K
-34.0%

Summary: Georgetown 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 did not change, 3 bedroom homes decreased by 0.4%, 4 bedroom homes increased by 15.7%, and 5+ bedroom homes decreased by 34%.

Median Sold Price Compared To Nearby Cities

Ooltewah
+7.8%
Georgetown
-12.3%
Mc Donald
-12.3%

Housing Supply in Georgetown, TN

How many homes are available in Georgetown, TN?

Number of Homes For Sale

Apr 2024May 2024CHANGE
2322-4.3%

Summary: The Georgetown real estate market had 22 homes for sale in May 2024, a 4.3% decrease compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 21
-50.0%
3 1817
-5.6%
4 23
+50.0%
5+ 11
0.0%

Summary: The Georgetown housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 50%, 3 bedroom homes decreased by 5.6%, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Apr 2024May 2024CHANGE
47+75.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Georgetown, expect to pay close to the asking price. 71.4% of homes here sold near the asking price last month.

Summary: A total of 7 homes were sold or pending in Georgetown in May 2024, up by 75.0% month-over-month. Of the 7 sold homes, 29% were sold under asking, 71% were sold at asking, and 0% were sold over asking.

Days on Market for Georgetown, TN

How long does it take to sell a home in Georgetown, TN?

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 7 homes were sold in Georgetown; 43% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% 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 1 Day Ago

Newest Listings in Georgetown, TN

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