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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Monroe County is a seller's market

Buyer's
Market

Difference Since November 2023

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

Key Takeaway

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

Housing Prices in Monroe County, TN

How much do homes in Monroe County, TN cost?

Median Sold Price

$295,901

$188/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$3,901(+1.3%)

Key Takeaway

Homes in Monroe County have sold for 1.3% more than they did a year ago.

Summary: The median home sold price in Monroe County was $295,901 in November 2024, up 1.3% from last year, and the median price per square foot was $188.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $129K$330K
+155.8%
2 $213.7K$230K
+7.6%
3 $295.1K$304.3K
+3.1%
4 $358K$360K
+0.6%
5+ $579K$712.4K
+23.0%

Summary: Monroe County housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 155.8%, 2 bedroom homes increased by 7.6%, 3 bedroom homes increased by 3.1%, 4 bedroom homes increased by 0.6%, and 5+ bedroom homes increased by 23%.

Median Sold Price Compared To Nearby Counties

Graham County
+44.1%
Loudon County
+6.0%
Cherokee County
+3.9%
McMinn County
+3.1%
Monroe County
+1.3%

Housing Supply in Monroe County, TN

How many homes are available in Monroe County, TN?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
281273-2.8%

Summary: The Monroe County real estate market had 273 homes for sale in November 2024, a 2.8% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 36
+100.0%
2 5049
-2.0%
3 165163
-1.2%
4 4841
-14.6%
5+ 1514
-6.7%

Summary: The Monroe County housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 2%, 3 bedroom homes decreased by 1.2%, 4 bedroom homes decreased by 14.6%, and 5+ bedroom homes decreased by 6.7%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
4346+7.0%

Asking Price vs. Sold Price

31 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

8 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Monroe County, you may be able to get a good deal. 67.4% of homes here sold below asking price last month.

Summary: A total of 46 homes were sold or pending in Monroe County in November 2024, up by 7.0% month-over-month. Of the 46 sold homes, 67% were sold under asking, 15% were sold at asking, and 17% were sold over asking.

Days on Market for Monroe County, TN

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

Average Sale Time

Nov 2023Nov 2024CHANGE
35 Days65 Days+86.2%

Summary: Homes in Monroe County had an average of 65 days on market in Nov 2024, up by 86.2% compared to last year.

Breakdown of Home Sale Times

16 Homes Were Sold
Under 30 Days

16 Homes Were Sold
In 30 - 90 Days

11 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 46 homes were sold in Monroe County; 35% of homes were sold within 30 days, 35% of homes were sold within 30 to 90 days, and 24% 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 Monroe County, TN

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