Is Meigs County, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Meigs County is a neutral's market

Buyer's
Market

Difference Since May 2023

At the same time last year, Meigs County was a Seller's Market.

Key Takeaway

Meigs 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 Meigs County, TN

How much do homes in Meigs County, TN cost?

Median Sold Price

$360,500

$203/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$44,000(+13.9%)

Key Takeaway

Homes in Meigs County have sold for 13.9% more than they did a year ago.

Summary: The median home sold price in Meigs County was $360,500 in May 2024, up 13.9% from last year, and the median price per square foot was $203.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $225K$279.9K
+24.4%
2 $167.5K$230K
+37.3%
3 $325.1K$360.5K
+10.9%
4 $379K$460K
+21.4%
5+ $712.5K$888.5K
+24.7%

Summary: Meigs County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 24.4%, 2 bedroom homes increased by 37.3%, 3 bedroom homes increased by 10.9%, 4 bedroom homes increased by 21.4%, and 5+ bedroom homes increased by 24.7%.

Median Sold Price Compared To Nearby Counties

Meigs County
+13.9%
McMinn County
+9.1%
Bradley County
+7.2%
Rhea County
+5.8%
Hamilton County
+2.7%

Housing Supply in Meigs County, TN

How many homes are available in Meigs County, TN?

Number of Homes For Sale

Apr 2024May 2024CHANGE
95108+13.7%

Summary: The Meigs County real estate market had 108 homes for sale in May 2024, a 13.7% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 02
+100.0%
2 118
-27.3%
3 5869
+19.0%
4 2325
+8.7%
5+ 34
+33.3%

Summary: The Meigs County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 27.3%, 3 bedroom homes increased by 19%, 4 bedroom homes increased by 8.7%, and 5+ bedroom homes increased by 33.3%.

Number of Homes Sold

Apr 2024May 2024CHANGE
1617+6.3%

Asking Price vs. Sold Price

10 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Meigs County, you may be able to get a good deal. 58.8% of homes here sold below asking price last month.

Summary: A total of 17 homes were sold or pending in Meigs County in May 2024, up by 6.3% month-over-month. Of the 17 sold homes, 59% were sold under asking, 35% were sold at asking, and 6% were sold over asking.

Days on Market for Meigs County, TN

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

Average Sale Time

May 2023May 2024CHANGE
96 Days36 Days-62.0%

Summary: Homes in Meigs County had an average of 36 days on market in May 2024, down by 62% compared to last year.

Breakdown of Home Sale Times

6 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 17 homes were sold in Meigs County; 35% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 12% 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 Meigs County, TN

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