$2,363 Closing Credit*
$199,000
3,358 SqFt
4 Beds
•2 Full Baths
Listing Office: Keller Williams Realty
Is Rhea County, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Rhea County has remained a Seller's Market.
Key Takeaway
Rhea County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Rhea County, TN
How much do homes in Rhea County, TN cost?
Median Sold Price
$290,000
$181/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$10,000(+3.6%)
Key Takeaway
Homes in Rhea County have sold for 3.6% more than they did a year ago.
Summary: The median home sold price in Rhea County was $290,000 in October 2024, up 3.6% from last year, and the median price per square foot was $181.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $427K | $290K | -32.1% |
| 2 Bedrooms | $182.5K | $190.9K | +4.6% |
| 3 Bedrooms | $285K | $275K | -3.5% |
| 4 Bedrooms | $354.9K | $400K | +12.7% |
| 5+ Bedrooms | $360K | $439.5K | +22.1% |
Summary: Rhea County housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 32.1%, 2 bedroom homes increased by 4.6%, 3 bedroom homes decreased by 3.5%, 4 bedroom homes increased by 12.7%, and 5+ bedroom homes increased by 22.1%.
Median Sold Price Compared To Nearby Counties
| Meigs County | $325K | $410.7K | +26.4% |
| Roane County | $241.5K | $274.6K | +13.7% |
| Bledsoe County | $236K | $248.5K | +5.3% |
| Cumberland County | $312K | $323.5K | +3.7% |
| Rhea County | $280K | $290K | +3.6% |
Housing Supply in Rhea County, TN
How many homes are available in Rhea County, TN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 240 | 212 | -11.7% |
Summary: The Rhea County real estate market had 212 homes for sale in October 2024, a 11.7% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 4 | 0.0% |
| 2 Bedrooms | 21 | 22 | +4.8% |
| 3 Bedrooms | 147 | 124 | -15.6% |
| 4 Bedrooms | 44 | 40 | -9.1% |
| 5+ Bedrooms | 24 | 22 | -8.3% |
Summary: The Rhea County 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 increased by 4.8%, 3 bedroom homes decreased by 15.6%, 4 bedroom homes decreased by 9.1%, and 5+ bedroom homes decreased by 8.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 46 | 46 | 0.0% |
Asking Price vs. Sold Price
31 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Rhea 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 Rhea County in October 2024, the same as the previous month. Of the 46 sold homes, 67% were sold under asking, 17% were sold at asking, and 15% were sold over asking.
Days on Market for Rhea County, TN
How long does it take to sell a home in Rhea County, TN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 34 Days | 53 Days | +52.9% |
Summary: Homes in Rhea County had an average of 53 days on market in Oct 2024, up by 52.9% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Rhea County are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 46 homes were sold in Rhea County; 26% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Knoxville Area Association of REALTORS® Multiple Listing Service. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some or all of the listings may not belong to the firm whose website is being visited. Real estate listings held by brokerage firms other than this broker are indicated by detailed information about them such as the name of the listing firms. 
Listings courtesy of RealTracs Middle Tennessee Regional MLS as distributed by MLS GRID.
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