Is Powell, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Powell has remained a Seller's Market.
Housing Prices in Powell, TN
How much do homes in Powell, TN cost?
Median Sold Price
$349,900
$188/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Powell was $349,900 in April 2024, up 4.5% from last year, and the median price per square foot was $188.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $214K | N/A |
2 Bedrooms | $217.9K | $239.9K | +10.1% |
3 Bedrooms | $317.7K | $349.9K | +10.1% |
4 Bedrooms | $397.4K | $399K | 0.4% |
5+ Bedrooms | $469.5K | $527.4K | +12.3% |
Summary: Powell housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 10.1%, 3 bedroom homes increased by 10.1%, 4 bedroom homes increased by 0.4%, and 5+ bedroom homes increased by 12.3%.
Housing Supply in Powell, TN
How many homes are available in Powell, TN?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
90 | 90 | 0.0% |
Summary: The Powell real estate market had 90 homes for sale in April 2024, the same as March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 7 | 5 | -28.6% |
3 Bedrooms | 54 | 63 | +16.7% |
4 Bedrooms | 27 | 19 | -29.6% |
5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Powell housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 28.6%, 3 bedroom homes increased by 16.7%, 4 bedroom homes decreased by 29.6%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
33 | 22 | -33.3% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 22 homes were sold or pending in Powell in April 2024, down by 33.3% month-over-month. Of the 22 sold homes, 59% were sold under asking, 27% were sold at asking, and 14% were sold over asking.
Days on Market for Powell, TN
How long does it take to sell a home in Powell, TN?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
4 Days | 49 Days | +970.5% |
Summary: Homes in Powell had an average of 49 days on market in Apr 2024, up by 970.5% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During April 2024, 22 homes were sold in Powell; 55% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 18% of homes were sold over 90 days.