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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Polk County is a buyer's market

Buyer's
Market

Difference Since November 2023

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

Key Takeaway

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

Housing Prices in Polk County, TN

How much do homes in Polk County, TN cost?

Median Sold Price

$280,000

$173/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

-$9,900(-3.4%)

Key Takeaway

Homes in Polk County have sold for 3.4% less than they did a year ago.

Summary: The median home sold price in Polk County was $280,000 in November 2024, down 3.4% from last year, and the median price per square foot was $173.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $125K$70K
-44.0%
2 $188K$179K
-4.8%
3 $289K$295K
+2.1%
4 $415K$288K
-30.6%
5+ $372.5K$532.4K
+42.9%

Summary: Polk County housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 44%, 2 bedroom homes decreased by 4.8%, 3 bedroom homes increased by 2.1%, 4 bedroom homes decreased by 30.6%, and 5+ bedroom homes increased by 42.9%.

Median Sold Price Compared To Nearby Counties

Bradley County
+6.8%
Fannin County
+6.4%
McMinn County
+3.1%
Monroe County
+1.3%
Polk County
-3.4%

Housing Supply in Polk County, TN

How many homes are available in Polk County, TN?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
101111+9.9%

Summary: The Polk County real estate market had 111 homes for sale in November 2024, a 9.9% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 66
0.0%
2 1817
-5.6%
3 4655
+19.6%
4 2122
+4.8%
5+ 1011
+10.0%

Summary: The Polk 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 5.6%, 3 bedroom homes increased by 19.6%, 4 bedroom homes increased by 4.8%, and 5+ bedroom homes increased by 10%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
78+14.3%

Asking Price vs. Sold Price

8 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 Polk County, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 8 homes were sold or pending in Polk County in November 2024, up by 14.3% month-over-month. Of the 8 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for Polk County, TN

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

Average Sale Time

Nov 2023Nov 2024CHANGE
78 Days117 Days+50.3%

Summary: Homes in Polk County had an average of 117 days on market in Nov 2024, up by 50.3% 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 Polk County 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 Polk County; 13% of homes were sold within 30 days, 13% 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 20 Days Ago

Newest Listings in Polk County, TN

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