Is Farragut, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Farragut has remained a Seller's Market.
Housing Prices in Farragut, TN
How much do homes in Farragut, TN cost?
Median Sold Price
$667,033
$219/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Farragut was $667,033 in May 2024, up 0.3% from last year, and the median price per square foot was $219.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $234K | - | N/A |
2 Bedrooms | $345K | $375K | +8.7% |
3 Bedrooms | $485K | $500K | +3.1% |
4 Bedrooms | $715K | $715K | 0.0% |
5+ Bedrooms | $829K | $875K | +5.5% |
Summary: Farragut 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 increased by 8.7%, 3 bedroom homes increased by 3.1%, 4 bedroom homes did not change, and 5+ bedroom homes increased by 5.5%.
Median Sold Price Compared To Nearby Cities
Knoxville | $338.4K | $366.7K | +8.4% |
Farragut | $665K | $667K | 0.3% |
Housing Supply in Farragut, TN
How many homes are available in Farragut, TN?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
132 | 135 | +2.3% |
Summary: The Farragut real estate market had 135 homes for sale in May 2024, a 2.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 5 | 5 | 0.0% |
3 Bedrooms | 26 | 28 | +7.7% |
4 Bedrooms | 68 | 67 | -1.5% |
5+ Bedrooms | 33 | 35 | +6.1% |
Summary: The Farragut 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 7.7%, 4 bedroom homes decreased by 1.5%, and 5+ bedroom homes increased by 6.1%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
37 | 37 | 0.0% |
Asking Price vs. Sold Price
16 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Summary: A total of 37 homes were sold or pending in Farragut in May 2024, the same as the previous month. Of the 37 sold homes, 43% were sold under asking, 30% were sold at asking, and 27% were sold over asking.
Days on Market for Farragut, TN
How long does it take to sell a home in Farragut, TN?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
22 Days | 32 Days | +41.3% |
Summary: Homes in Farragut had an average of 32 days on market in May 2024, up by 41.3% compared to last year.
Breakdown of Home Sale Times
27 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During May 2024, 37 homes were sold in Farragut; 73% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.