$3,978 Closing Credit*
$335,000
1,568 SqFt
2 Beds
•2 Full Baths
Listing Office: East Tennessee Properties, LLC
Is Tellico Plains, 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, Tellico Plains was a Seller's Market.
Key Takeaway
Tellico Plains is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Tellico Plains, TN
How much do homes in Tellico Plains, TN cost?
Median Sold Price
$265,050
$179/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$9,950(-3.6%)
Key Takeaway
Homes in Tellico Plains have sold for 3.6% less than they did a year ago.
Summary: The median home sold price in Tellico Plains was $265,050 in October 2024, down 3.6% from last year, and the median price per square foot was $179.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $779K | $317.5K | -59.2% |
| 2 Bedrooms | $252.5K | $232.5K | -7.9% |
| 3 Bedrooms | $290K | $269K | -7.2% |
| 4 Bedrooms | $337.5K | $360K | +6.7% |
| 5+ Bedrooms | - | $189K | N/A |
Summary: Tellico Plains housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 59.2%, 2 bedroom homes decreased by 7.9%, 3 bedroom homes decreased by 7.2%, 4 bedroom homes increased by 6.7%, and 5+ bedroom homes did not change.
Housing Supply in Tellico Plains, TN
How many homes are available in Tellico Plains, TN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 49 | 52 | +6.1% |
Summary: The Tellico Plains real estate market had 52 homes for sale in October 2024, a 6.1% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 18 | 21 | +16.7% |
| 3 Bedrooms | 22 | 22 | 0.0% |
| 4 Bedrooms | 4 | 4 | 0.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Tellico Plains 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 16.7%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 9 | 4 | -55.6% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Tellico Plains, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Tellico Plains in October 2024, down by 55.6% month-over-month. Of the 4 sold homes, 75% were sold under asking, 0% were sold at asking, and 25% were sold over asking.
Days on Market for Tellico Plains, TN
How long does it take to sell a home in Tellico Plains, TN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 52 Days | 85 Days | +62.4% |
Summary: Homes in Tellico Plains had an average of 85 days on market in Oct 2024, up by 62.4% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Tellico Plains has remained consistent over time.
Summary: During October 2024, 4 homes were sold in Tellico Plains; 0% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 50% 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.
© 2024 of the REALTRACS MLS. All rights Reserved.