Is Birchwood, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Birchwood is a seller's market

Buyer's
Market

Difference Since October 2023

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

Key Takeaway

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

Housing Prices in Birchwood, TN

How much do homes in Birchwood, TN cost?

Median Sold Price

$409,750

$208/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$32,300(+8.6%)

Key Takeaway

Homes in Birchwood have sold for 8.6% more than they did a year ago.

Summary: The median home sold price in Birchwood was $409,750 in October 2024, up 8.6% from last year, and the median price per square foot was $208.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 --
N/A
2 $226K$204K
-9.7%
3 $355.5K$400.5K
+12.7%
4 $470K$650K
+38.3%
5+ $620K$465K
-25.0%

Summary: Birchwood housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 9.7%, 3 bedroom homes increased by 12.7%, 4 bedroom homes increased by 38.3%, and 5+ bedroom homes decreased by 25%.

Median Sold Price Compared To Nearby Neighborhoods

Birchwood
+8.6%
Bakewell
+6.9%
Ooltewah / Summit
+4.5%
Harrison Bay
-0.5%

Housing Supply in Birchwood, TN

How many homes are available in Birchwood, TN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
6669+4.5%

Summary: The Birchwood real estate market had 69 homes for sale in October 2024, a 4.5% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 53
-40.0%
3 4749
+4.3%
4 1417
+21.4%
5+ 00
0.0%

Summary: The Birchwood housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 40%, 3 bedroom homes increased by 4.3%, 4 bedroom homes increased by 21.4%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
1124+118.2%

Asking Price vs. Sold Price

14 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Birchwood, you may be able to get a good deal. 58.3% of homes here sold below asking price last month.

Summary: A total of 24 homes were sold or pending in Birchwood in October 2024, up by 118.2% month-over-month. Of the 24 sold homes, 58% were sold under asking, 25% were sold at asking, and 17% were sold over asking.

Days on Market for Birchwood, TN

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

Average Sale Time

Oct 2023Oct 2024CHANGE
11 Days88 Days+660.0%

Summary: Homes in Birchwood had an average of 88 days on market in Oct 2024, up by 660% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

4 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 24 homes were sold in Birchwood; 21% of homes were sold within 30 days, 13% 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 23 Days Ago

Newest Listings in Birchwood, TN

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