$1,508 Closing Credit*
$127,000
828 SqFt
3 Beds
•2 Full Baths
#9973181, Cindy Edwards, Listing Office: REMAX Checkmate, Inc. Realtors
Is Mountain City, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Mountain City was a Seller's 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
$159/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$35,300(+15.4%)
Key Takeaway
Homes in Mountain City have sold for 15.4% more than they did a year ago.
Summary: The median home sold price in Mountain City was $264,250 in October 2024, up 15.4% from last year, and the median price per square foot was $159.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $128.5K | $229.5K | +78.6% |
| 2 Bedrooms | $188.5K | $229K | +21.5% |
| 3 Bedrooms | $217.5K | $245K | +12.6% |
| 4 Bedrooms | $315K | $337.9K | +7.3% |
| 5+ Bedrooms | $692.5K | $500K | -27.8% |
Summary: Mountain City housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 78.6%, 2 bedroom homes increased by 21.5%, 3 bedroom homes increased by 12.6%, 4 bedroom homes increased by 7.3%, 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
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 63 | 58 | -7.9% |
Summary: The Mountain City real estate market had 58 homes for sale in October 2024, a 7.9% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 11 | 6 | -45.5% |
| 3 Bedrooms | 38 | 34 | -10.5% |
| 4 Bedrooms | 10 | 14 | +40.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Mountain City 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 decreased by 45.5%, 3 bedroom homes decreased by 10.5%, 4 bedroom homes increased by 40%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 14 | 7 | -50.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Mountain City, you may be able to get a good deal. 71.4% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in Mountain City in October 2024, down by 50.0% month-over-month. Of the 7 sold homes, 71% were sold under asking, 14% were sold at asking, and 14% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 142 Days | 99 Days | -29.7% |
Summary: Homes in Mountain City had an average of 99 days on market in Oct 2024, down by 29.7% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Mountain City has remained consistent over time.
Summary: During October 2024, 7 homes were sold in Mountain City; 14% of homes were sold within 30 days, 43% of homes were sold within 30 to 90 days, and 43% of homes were sold over 90 days.
