Is Powell, 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, Powell has remained a Seller's Market.
Key Takeaway
Powell is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Powell, TN
How much do homes in Powell, TN cost?
Median Sold Price
$349,998
$192/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Powell have sold for 3% more than they did a year ago.
Summary: The median home sold price in Powell was $349,998 in May 2024, up 3% from last year, and the median price per square foot was $192.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $214K | $167.5K | -21.7% |
| 2 Bedrooms | $219.4K | $240K | +9.4% |
| 3 Bedrooms | $319.5K | $351.5K | +10.0% |
| 4 Bedrooms | $395K | $401.7K | +1.7% |
| 5+ Bedrooms | $474.7K | $517.4K | +9.0% |
Summary: Powell housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 21.7%, 2 bedroom homes increased by 9.4%, 3 bedroom homes increased by 10%, 4 bedroom homes increased by 1.7%, and 5+ bedroom homes increased by 9%.
Housing Supply in Powell, TN
How many homes are available in Powell, TN?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 96 | 99 | +3.1% |
Summary: The Powell real estate market had 99 homes for sale in May 2024, a 3.1% 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 | 6 | 11 | +83.3% |
| 3 Bedrooms | 65 | 60 | -7.7% |
| 4 Bedrooms | 22 | 24 | +9.1% |
| 5+ Bedrooms | 3 | 4 | +33.3% |
Summary: The Powell 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 83.3%, 3 bedroom homes decreased by 7.7%, 4 bedroom homes increased by 9.1%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 25 | 29 | +16.0% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Powell, you may be able to get a good deal. 44.8% of homes here sold below asking price last month.
Summary: A total of 29 homes were sold or pending in Powell in May 2024, up by 16.0% month-over-month. Of the 29 sold homes, 45% were sold under asking, 24% were sold at asking, and 31% were sold over asking.
Days on Market for Powell, TN
How long does it take to sell a home in Powell, TN?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 15 Days | 21 Days | +44.6% |
Summary: Homes in Powell had an average of 21 days on market in May 2024, up by 44.6% compared to last year.
Breakdown of Home Sale Times
22 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Powell are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 29 homes were sold in Powell; 76% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Knoxville Area Association of REALTORS® Multiple Listing Service. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some or all of the listings may not belong to the firm whose website is being visited. Real estate listings held by brokerage firms other than this broker are indicated by detailed information about them such as the name of the listing firms.