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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing McMinn County is a buyer's market

Buyer's
Market

Difference Since November 2023

At the same time last year, McMinn County was a Seller's Market.

Key Takeaway

McMinn County is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in McMinn County, TN

How much do homes in McMinn County, TN cost?

Median Sold Price

$263,000

$165/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$8,000(+3.1%)

Key Takeaway

Homes in McMinn County have sold for 3.1% more than they did a year ago.

Summary: The median home sold price in McMinn County was $263,000 in November 2024, up 3.1% from last year, and the median price per square foot was $165.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $37.5K$164K
+337.3%
2 $180.9K$178.4K
-1.4%
3 $249.6K$266.6K
+6.8%
4 $315K$330K
+4.8%
5+ $325.3K$372.4K
+14.5%

Summary: McMinn County housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 337.3%, 2 bedroom homes decreased by 1.4%, 3 bedroom homes increased by 6.8%, 4 bedroom homes increased by 4.8%, and 5+ bedroom homes increased by 14.5%.

Median Sold Price Compared To Nearby Counties

Meigs County
+24.8%
Bradley County
+6.8%
McMinn County
+3.1%
Monroe County
+1.3%
Polk County
-3.4%

Housing Supply in McMinn County, TN

How many homes are available in McMinn County, TN?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
258274+6.2%

Summary: The McMinn County real estate market had 274 homes for sale in November 2024, a 6.2% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 11
0.0%
2 3027
-10.0%
3 161173
+7.5%
4 5559
+7.3%
5+ 1114
+27.3%

Summary: The McMinn County housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 10%, 3 bedroom homes increased by 7.5%, 4 bedroom homes increased by 7.3%, and 5+ bedroom homes increased by 27.3%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
32320.0%

Asking Price vs. Sold Price

23 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in McMinn County, you may be able to get a good deal. 71.9% of homes here sold below asking price last month.

Summary: A total of 32 homes were sold or pending in McMinn County in November 2024, the same as the previous month. Of the 32 sold homes, 72% were sold under asking, 16% were sold at asking, and 13% were sold over asking.

Days on Market for McMinn County, TN

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

Average Sale Time

Nov 2023Nov 2024CHANGE
28 Days64 Days+128.2%

Summary: Homes in McMinn County had an average of 64 days on market in Nov 2024, up by 128.2% compared to last year.

Breakdown of Home Sale Times

10 Homes Were Sold
Under 30 Days

11 Homes Were Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in McMinn County has remained consistent over time.

Summary: During November 2024, 32 homes were sold in McMinn County; 31% of homes were sold within 30 days, 34% of homes were sold within 30 to 90 days, and 16% 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 20 Days Ago

Newest Listings in McMinn County, TN

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