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 October 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

$265,000

$165/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$10,986(+4.3%)

Key Takeaway

Homes in McMinn County have sold for 4.3% more than they did a year ago.

Summary: The median home sold price in McMinn County was $265,000 in October 2024, up 4.3% from last year, and the median price per square foot was $165.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $37.5K$164K
+337.3%
2 $180K$179.9K
-0.1%
3 $248.5K$266.6K
+7.3%
4 $315K$330K
+4.8%
5+ $330.4K$334.8K
+1.4%

Summary: McMinn County housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 337.3%, 2 bedroom homes decreased by 0.1%, 3 bedroom homes increased by 7.3%, 4 bedroom homes increased by 4.8%, and 5+ bedroom homes increased by 1.4%.

Median Sold Price Compared To Nearby Counties

Meigs County
+26.4%
Monroe County
+5.5%
Bradley County
+4.9%
McMinn County
+4.3%
Polk County
-0.7%

Housing Supply in McMinn County, TN

How many homes are available in McMinn County, TN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
2582590.4%

Summary: The McMinn County real estate market had 259 homes for sale in October 2024, a 0.4% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 11
0.0%
2 2929
0.0%
3 156162
+3.8%
4 6456
-12.5%
5+ 811
+37.5%

Summary: The McMinn County 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 remained the same, 3 bedroom homes increased by 3.8%, 4 bedroom homes decreased by 12.5%, and 5+ bedroom homes increased by 37.5%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
3930-23.1%

Asking Price vs. Sold Price

23 Homes Were Sold
Under Asking

3 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. 76.7% of homes here sold below asking price last month.

Summary: A total of 30 homes were sold or pending in McMinn County in October 2024, down by 23.1% month-over-month. Of the 30 sold homes, 77% were sold under asking, 10% 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

Oct 2023Oct 2024CHANGE
31 Days41 Days+31.6%

Summary: Homes in McMinn County had an average of 41 days on market in Oct 2024, up by 31.6% compared to last year.

Breakdown of Home Sale Times

13 Homes Were Sold
Under 30 Days

10 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 30 homes were sold in McMinn County; 43% of homes were sold within 30 days, 33% 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 20 Days Ago

Newest Listings in McMinn County, TN

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