$63,000
2.59 Acres
Land
#9974441, Denise Robertson, Mike Robertson, Listing Office: KW Johnson City
Is Mountain City, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Mountain City was a Neutral Market.
Key Takeaway
Mountain City is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Mountain City, TN
How much do homes in Mountain City, TN cost?
Median Sold Price
$264,250
$158/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$44,300(+20.1%)
Key Takeaway
Homes in Mountain City have sold for 20.1% more than they did a year ago.
Summary: The median home sold price in Mountain City was $264,250 in November 2024, up 20.1% from last year, and the median price per square foot was $158.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $83.5K | $409K | +389.8% |
| 2 Bedrooms | $188.2K | $225K | +19.5% |
| 3 Bedrooms | $209.5K | $250.2K | +19.5% |
| 4 Bedrooms | $312.5K | $349.9K | +12.0% |
| 5+ Bedrooms | $692.5K | $500K | -27.8% |
Summary: Mountain City housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 389.8%, 2 bedroom homes increased by 19.5%, 3 bedroom homes increased by 19.5%, 4 bedroom homes increased by 12%, and 5+ bedroom homes decreased by 27.8%.
Housing Supply in Mountain City, TN
How many homes are available in Mountain City, TN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 62 | 57 | -8.1% |
Summary: The Mountain City real estate market had 57 homes for sale in November 2024, a 8.1% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 6 | 6 | 0.0% |
| 3 Bedrooms | 38 | 36 | -5.3% |
| 4 Bedrooms | 13 | 11 | -15.4% |
| 5+ Bedrooms | 3 | 2 | -33.3% |
Summary: The Mountain City 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 remained the same, 3 bedroom homes decreased by 5.3%, 4 bedroom homes decreased by 15.4%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 7 | 8 | +14.3% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Mountain City, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in Mountain City in November 2024, up by 14.3% month-over-month. Of the 8 sold homes, 75% were sold under asking, 25% were sold at asking, and 0% were sold over asking.
Days on Market for Mountain City, TN
How long does it take to sell a home in Mountain City, TN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 87 Days | 98 Days | +12.6% |
Summary: Homes in Mountain City had an average of 98 days on market in Nov 2024, up by 12.6% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Mountain City are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During November 2024, 8 homes were sold in Mountain City; 25% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 63% of homes were sold over 90 days.
