Is Meigs 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, Meigs County was a Seller's Market.
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
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
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $225K | $279.9K | +24.4% |
2 Bedrooms | $167.5K | $230K | +37.3% |
3 Bedrooms | $325.1K | $360.5K | +10.9% |
4 Bedrooms | $379K | $460K | +21.4% |
5+ Bedrooms | $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 | $316.5K | $360.5K | +13.9% |
McMinn County | $232.4K | $253.6K | +9.1% |
Bradley County | $293.4K | $314.5K | +7.2% |
Rhea County | $279.3K | $295.6K | +5.8% |
Hamilton County | $350K | $359.5K | +2.7% |
Housing Supply in Meigs County, TN
How many homes are available in Meigs County, TN?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
95 | 108 | +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
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 2 | +100.0% |
2 Bedrooms | 11 | 8 | -27.3% |
3 Bedrooms | 58 | 69 | +19.0% |
4 Bedrooms | 23 | 25 | +8.7% |
5+ Bedrooms | 3 | 4 | +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 2024 | May 2024 | CHANGE |
---|---|---|
16 | 17 | +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
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 2023 | May 2024 | CHANGE |
---|---|---|
96 Days | 36 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
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.