Is Morgan County, 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, Morgan County has remained a Seller's Market.
Housing Prices in Morgan County, TN
How much do homes in Morgan County, TN cost?
Median Sold Price
$240,000
$163/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Morgan County was $240,000 in May 2024, up 14.3% from last year, and the median price per square foot was $163.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $143K | $179.5K | +25.5% |
2 Bedrooms | $169K | $150K | -11.2% |
3 Bedrooms | $207K | $249K | +20.3% |
4 Bedrooms | $255K | $309.7K | +21.5% |
5+ Bedrooms | $317.5K | $447K | +40.8% |
Summary: Morgan County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 25.5%, 2 bedroom homes decreased by 11.2%, 3 bedroom homes increased by 20.3%, 4 bedroom homes increased by 21.5%, and 5+ bedroom homes increased by 40.8%.
Median Sold Price Compared To Nearby Counties
Morgan County | $210K | $240K | +14.3% |
Roane County | $235K | $260K | +10.6% |
Scott County | $199K | $212.5K | +6.8% |
Fentress County | $239.4K | $255.5K | +6.7% |
Cumberland County | $299.5K | $317.9K | +6.2% |
Housing Supply in Morgan County, TN
How many homes are available in Morgan County, TN?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
39 | 50 | +28.2% |
Summary: The Morgan County real estate market had 50 homes for sale in May 2024, a 28.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 2 | 0.0% |
2 Bedrooms | 4 | 6 | +50.0% |
3 Bedrooms | 26 | 33 | +26.9% |
4 Bedrooms | 5 | 7 | +40.0% |
5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Morgan County 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 increased by 50%, 3 bedroom homes increased by 26.9%, 4 bedroom homes increased by 40%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
5 | 12 | +140.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 12 homes were sold or pending in Morgan County in May 2024, up by 140.0% month-over-month. Of the 12 sold homes, 42% were sold under asking, 17% were sold at asking, and 42% were sold over asking.
Days on Market for Morgan County, TN
How long does it take to sell a home in Morgan County, TN?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
37 Days | 17 Days | -53.6% |
Summary: Homes in Morgan County had an average of 17 days on market in May 2024, down by 53.6% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 12 homes were sold in Morgan County; 83% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.