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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Morgan County is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Morgan County has remained a Seller's Market.

Key Takeaway

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

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

+$30,000(+14.3%)

Key Takeaway

Homes in Morgan County have sold for 14.3% more than they did a year ago.

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

# BEDSMay 2023May 2024CHANGE
1 $143K$179.5K
+25.5%
2 $169K$150K
-11.2%
3 $207K$249K
+20.3%
4 $255K$309.7K
+21.5%
5+ $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
+14.3%
Roane County
+10.6%
Scott County
+6.8%
Fentress County
+6.7%
Cumberland County
+6.2%

Housing Supply in Morgan County, TN

How many homes are available in Morgan County, TN?

Number of Homes For Sale

Apr 2024May 2024CHANGE
3950+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

# BEDSApr 2024May 2024CHANGE
1 22
0.0%
2 46
+50.0%
3 2633
+26.9%
4 57
+40.0%
5+ 22
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 2024May 2024CHANGE
512+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

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Morgan County, you may be able to get a good deal. 41.7% of homes here sold below asking price last month.

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 2023May 2024CHANGE
37 Days17 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

Breakdown of Home Sale Times

Key Takeaway

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

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.

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 Morgan County, TN

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