Is Lookout Mountain, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lookout Mountain is a seller's market

Buyer's
Market

Difference Since Last Month

Last month, Lookout Mountain was a Neutral Market.

Key Takeaway

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

Housing Prices in Lookout Mountain, TN

How much do homes in Lookout Mountain, TN cost?

Median Sold Price

$2,400,000

$414/sqft

Based on all homes sold in May 2024.

Difference Since Last Month

+$1,350,000(+128.6%)

Key Takeaway

Homes in Lookout Mountain have sold for 128.6% more than they did a month ago.

Summary: The median home sold price in Lookout Mountain was $2,400,000 in May 2024, up 128.6% from last month, and the median price per square foot was $414.

Median Sold Price By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 --
N/A
2 --
N/A
3 -$901.5K
N/A
4 $1.0M-
N/A
5+ -$2.4M
N/A

Summary: Lookout Mountain housing prices by bedroom type for May 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Lookout Mountain
+128.6%
Lookout Mountain
+1.4%

Housing Supply in Lookout Mountain, TN

How many homes are available in Lookout Mountain, TN?

Number of Homes For Sale

Apr 2024May 2024CHANGE
1418+28.6%

Summary: The Lookout Mountain real estate market had 18 homes for sale in May 2024, a 28.6% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 11
0.0%
2 00
0.0%
3 23
+50.0%
4 55
0.0%
5+ 69
+50.0%

Summary: The Lookout Mountain 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 remained the same, 3 bedroom homes increased by 50%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 50%.

Number of Homes Sold

Apr 2024May 2024CHANGE
25+150.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lookout Mountain, you may be able to get a good deal. 60% of homes here sold below asking price last month.

Summary: A total of 5 homes were sold or pending in Lookout Mountain in May 2024, up by 150.0% 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 Lookout Mountain, TN

We’re sorry, we don't have information for this market at the moment

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 Lookout Mountain, TN

Nearby Markets to Lookout Mountain, TN

What housing markets are near Lookout Mountain, TN?