Is Spring City, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Spring City has remained a Seller's Market.
Key Takeaway
Spring City is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Spring City, TN
How much do homes in Spring City, TN cost?
Median Sold Price
$344,150
$195/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Spring City have sold for 16.7% more than they did a year ago.
Summary: The median home sold price in Spring City was $344,150 in May 2024, up 16.7% from last year, and the median price per square foot was $195.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $139.9K | $505K | +261.0% |
| 2 Bedrooms | $180K | $215K | +19.4% |
| 3 Bedrooms | $279.5K | $322.4K | +15.4% |
| 4 Bedrooms | $625K | $425K | -32.0% |
| 5+ Bedrooms | $824.5K | $467.4K | -43.3% |
Summary: Spring City housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 261%, 2 bedroom homes increased by 19.4%, 3 bedroom homes increased by 15.4%, 4 bedroom homes decreased by 32%, and 5+ bedroom homes decreased by 43.3%.
Housing Supply in Spring City, TN
How many homes are available in Spring City, TN?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 67 | 67 | 0.0% |
Summary: The Spring City real estate market had 67 homes for sale in May 2024, the same as April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 3 | +50.0% |
| 2 Bedrooms | 5 | 7 | +40.0% |
| 3 Bedrooms | 38 | 32 | -15.8% |
| 4 Bedrooms | 15 | 17 | +13.3% |
| 5+ Bedrooms | 7 | 8 | +14.3% |
Summary: The Spring City housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 40%, 3 bedroom homes decreased by 15.8%, 4 bedroom homes increased by 13.3%, and 5+ bedroom homes increased by 14.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 18 | 13 | -27.8% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Spring City, you may be able to get a good deal. 38.5% of homes here sold below asking price last month.
Summary: A total of 13 homes were sold or pending in Spring City in May 2024, down by 27.8% month-over-month. Of the 13 sold homes, 38% were sold under asking, 31% were sold at asking, and 31% were sold over asking.
Days on Market for Spring City, TN
How long does it take to sell a home in Spring City, TN?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 26 Days | 43 Days | +61.7% |
Summary: Homes in Spring City had an average of 43 days on market in May 2024, up by 61.7% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Spring City are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 13 homes were sold in Spring City; 54% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 8% 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.