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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Roane County is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Roane County, TN

How much do homes in Roane County, TN cost?

Median Sold Price

$260,000

$162/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$25,000(+10.6%)

Key Takeaway

Homes in Roane County have sold for 10.6% more than they did a year ago.

Summary: The median home sold price in Roane County was $260,000 in May 2024, up 10.6% from last year, and the median price per square foot was $162.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $150K$128K
-14.7%
2 $160K$200K
+25.0%
3 $242.9K$260K
+7.0%
4 $301K$344.5K
+14.5%
5+ $375K$395K
+5.3%

Summary: Roane County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 14.7%, 2 bedroom homes increased by 25%, 3 bedroom homes increased by 7%, 4 bedroom homes increased by 14.5%, and 5+ bedroom homes increased by 5.3%.

Median Sold Price Compared To Nearby Counties

Loudon County
+22.3%
Morgan County
+14.3%
Roane County
+10.6%
Cumberland County
+6.2%
Rhea County
+5.8%

Housing Supply in Roane County, TN

How many homes are available in Roane County, TN?

Number of Homes For Sale

Apr 2024May 2024CHANGE
248259+4.4%

Summary: The Roane County real estate market had 259 homes for sale in May 2024, a 4.4% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 33
0.0%
2 5753
-7.0%
3 129139
+7.8%
4 4650
+8.7%
5+ 1314
+7.7%

Summary: The Roane 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 decreased by 7%, 3 bedroom homes increased by 7.8%, 4 bedroom homes increased by 8.7%, and 5+ bedroom homes increased by 7.7%.

Number of Homes Sold

Apr 2024May 2024CHANGE
5754-5.3%

Asking Price vs. Sold Price

36 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

10 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Roane County, you may be able to get a good deal. 67.9% of homes here sold below asking price last month.

Summary: A total of 54 homes were sold or pending in Roane County in May 2024, down by 5.3% month-over-month. Of the 53 sold homes, 68% were sold under asking, 13% were sold at asking, and 19% were sold over asking.

Days on Market for Roane County, TN

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

Average Sale Time

May 2023May 2024CHANGE
24 Days40 Days+60.5%

Summary: Homes in Roane County had an average of 40 days on market in May 2024, up by 60.5% compared to last year.

Breakdown of Home Sale Times

34 Homes Were Sold
Under 30 Days

11 Homes Were Sold
In 30 - 90 Days

9 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 54 homes were sold in Roane County; 63% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 17% 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

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