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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Meigs County is a seller's market

Buyer's
Market

Difference Since November 2023

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

Key Takeaway

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

Housing Prices in Meigs County, TN

How much do homes in Meigs County, TN cost?

Median Sold Price

$411,770

$209/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$81,870(+24.8%)

Key Takeaway

Homes in Meigs County have sold for 24.8% more than they did a year ago.

Summary: The median home sold price in Meigs County was $411,770 in November 2024, up 24.8% from last year, and the median price per square foot was $209.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $232.4K$190K
-18.3%
2 $181.9K$235K
+29.2%
3 $325K$411.7K
+26.7%
4 $478.3K$800K
+67.2%
5+ $670K$465K
-30.6%

Summary: Meigs County housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 18.3%, 2 bedroom homes increased by 29.2%, 3 bedroom homes increased by 26.7%, 4 bedroom homes increased by 67.2%, and 5+ bedroom homes decreased by 30.6%.

Median Sold Price Compared To Nearby Counties

Meigs County
+24.8%
Bradley County
+6.8%
Hamilton County
+6.3%
Rhea County
+3.6%
McMinn County
+3.1%

Housing Supply in Meigs County, TN

How many homes are available in Meigs County, TN?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
102106+3.9%

Summary: The Meigs County real estate market had 106 homes for sale in November 2024, a 3.9% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 11
0.0%
2 1716
-5.9%
3 6364
+1.6%
4 1719
+11.8%
5+ 46
+50.0%

Summary: The Meigs 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 5.9%, 3 bedroom homes increased by 1.6%, 4 bedroom homes increased by 11.8%, and 5+ bedroom homes increased by 50%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
1320+53.8%

Asking Price vs. Sold Price

13 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Meigs County, you may be able to get a good deal. 68.4% of homes here sold below asking price last month.

Summary: A total of 20 homes were sold or pending in Meigs County in November 2024, up by 53.8% month-over-month. Of the 19 sold homes, 68% were sold under asking, 11% were sold at asking, and 21% were sold over asking.

Days on Market for Meigs County, TN

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

Average Sale Time

Nov 2023Nov 2024CHANGE
48 Days81 Days+67.4%

Summary: Homes in Meigs County had an average of 81 days on market in Nov 2024, up by 67.4% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in Meigs County are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During November 2024, 20 homes were sold in Meigs County; 15% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 25% 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 2 Days Ago

Newest Listings in Meigs County, TN

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