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 December 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

$415,000

$212/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2023

+$35,100(+9.2%)

Key Takeaway

Homes in Birchwood have sold for 9.2% more than they did a year ago.

Summary: The median home sold price in Birchwood was $415,000 in December 2024, up 9.2% from last year, and the median price per square foot was $212.

Median Sold Price By Bedroom Count

# BEDSDec 2023Dec 2024CHANGE
1 --
N/A
2 $190K$308K
+62.1%
3 $365K$409.7K
+12.3%
4 $496.7K$662.5K
+33.4%
5+ $583.9K$465K
-20.4%

Summary: Birchwood housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 62.1%, 3 bedroom homes increased by 12.3%, 4 bedroom homes increased by 33.4%, and 5+ bedroom homes decreased by 20.4%.

Median Sold Price Compared To Nearby Neighborhoods

Bakewell
+16.3%
Birchwood
+9.2%
Ooltewah / Summit
+3.2%
Harrison Bay
-3.9%

Housing Supply in Birchwood, TN

How many homes are available in Birchwood, TN?

Number of Homes For Sale

Nov 2024Dec 2024CHANGE
5550-9.1%

Summary: The Birchwood real estate market had 50 homes for sale in December 2024, a 9.1% decrease compared to November 2024.

Homes For Sale By Bedroom Count

# BEDSNov 2024Dec 2024CHANGE
1 00
0.0%
2 25
+150.0%
3 3733
-10.8%
4 1612
-25.0%
5+ 00
0.0%

Summary: The Birchwood housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 150%, 3 bedroom homes decreased by 10.8%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Nov 2024Dec 2024CHANGE
1114+27.3%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Birchwood, expect to pay close to the asking price. 57.1% of homes here sold near the asking price last month.

Summary: A total of 14 homes were sold or pending in Birchwood in December 2024, up by 27.3% month-over-month. Of the 14 sold homes, 21% were sold under asking, 57% were sold at asking, and 21% 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

Dec 2023Dec 2024CHANGE
44 Days40 Days-9.3%

Summary: Homes in Birchwood had an average of 40 days on market in Dec 2024, down by 9.3% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

1 Home Was 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 December 2024, 14 homes were sold in Birchwood; 21% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 7% 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 4 Days Ago

Newest Listings in Birchwood, TN

Nearby Markets to Birchwood, TN