Is Alcoa, 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, Alcoa has remained a Seller's Market.
Key Takeaway
Alcoa is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Alcoa, TN
How much do homes in Alcoa, TN cost?
Median Sold Price
$276,000
$225/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
The sold price of homes in Alcoa has remained the same since last year.
Summary: The median home sold price in Alcoa was $276,000 in May 2024, up 0.4% from last year, and the median price per square foot was $225.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $220K | $230K | +4.5% |
| 3 Bedrooms | $299.9K | $285K | -5.0% |
| 4 Bedrooms | $620K | $629.5K | +1.5% |
| 5+ Bedrooms | $494.4K | $400K | -19.1% |
Summary: Alcoa housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 4.5%, 3 bedroom homes decreased by 5%, 4 bedroom homes increased by 1.5%, and 5+ bedroom homes decreased by 19.1%.
Median Sold Price Compared To Nearby Cities
| Louisville | $440K | $502.4K | +14.2% |
| Knoxville | $338.4K | $366.7K | +8.4% |
| Maryville | $351.8K | $374.6K | +6.5% |
| Alcoa | $274.8K | $276K | 0.4% |
| Rockford | $289.9K | $274.9K | -5.2% |
Housing Supply in Alcoa, TN
How many homes are available in Alcoa, TN?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 39 | 35 | -10.3% |
Summary: The Alcoa real estate market had 35 homes for sale in May 2024, a 10.3% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 13 | 11 | -15.4% |
| 3 Bedrooms | 19 | 17 | -10.5% |
| 4 Bedrooms | 5 | 5 | 0.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Alcoa housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 15.4%, 3 bedroom homes decreased by 10.5%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 11 | 9 | -18.2% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Alcoa, you may be able to get a good deal. 55.6% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in Alcoa in May 2024, down by 18.2% month-over-month. Of the 9 sold homes, 56% were sold under asking, 22% were sold at asking, and 22% were sold over asking.
Days on Market for Alcoa, TN
How long does it take to sell a home in Alcoa, TN?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 10 Days | 12 Days | +27.8% |
Summary: Homes in Alcoa had an average of 12 days on market in May 2024, up by 27.8% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Alcoa are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 9 homes were sold in Alcoa; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% 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.