Is Pikeville, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Pikeville is a buyer's market

Buyer's
Market

Difference Since October 2023

At the same time last year, Pikeville was a Seller's Market.

Key Takeaway

Pikeville is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Pikeville, TN

How much do homes in Pikeville, TN cost?

Median Sold Price

$242,850

$175/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$12,850(+5.6%)

Key Takeaway

Homes in Pikeville have sold for 5.6% more than they did a year ago.

Summary: The median home sold price in Pikeville was $242,850 in October 2024, up 5.6% from last year, and the median price per square foot was $175.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $149.9K$276.3K
+84.4%
2 $166.1K$227K
+36.6%
3 $245K$231.3K
-5.6%
4 $291.5K$385K
+32.1%
5+ $322.5K$700K
+117.1%

Summary: Pikeville housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 84.4%, 2 bedroom homes increased by 36.6%, 3 bedroom homes decreased by 5.6%, 4 bedroom homes increased by 32.1%, and 5+ bedroom homes increased by 117.1%.

Housing Supply in Pikeville, TN

How many homes are available in Pikeville, TN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
5560+9.1%

Summary: The Pikeville real estate market had 60 homes for sale in October 2024, a 9.1% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 14
+300.0%
2 109
-10.0%
3 3035
+16.7%
4 75
-28.6%
5+ 77
0.0%

Summary: The Pikeville housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 300%, 2 bedroom homes decreased by 10%, 3 bedroom homes increased by 16.7%, 4 bedroom homes decreased by 28.6%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
660.0%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Pikeville, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 6 homes were sold or pending in Pikeville in October 2024, the same as the previous month. Of the 6 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for Pikeville, TN

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

Average Sale Time

Oct 2023Oct 2024CHANGE
76 Days78 Days+2.2%

Summary: Homes in Pikeville had an average of 78 days on market in Oct 2024, up by 2.2% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 6 homes were sold in Pikeville; 17% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 33% 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 12 Days Ago

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