Is Loudon, 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, Loudon has remained a Seller's Market.
Housing Prices in Loudon, TN
How much do homes in Loudon, TN cost?
Median Sold Price
$573,291
$251/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Loudon was $573,291 in May 2024, up 15.8% from last year, and the median price per square foot was $251.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $191K | N/A |
2 Bedrooms | $186.7K | $235.5K | +26.1% |
3 Bedrooms | $499.9K | $571.3K | +14.3% |
4 Bedrooms | $649.9K | $650K | 0.0% |
5+ Bedrooms | $407.6K | $837.5K | +105.4% |
Summary: Loudon 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 26.1%, 3 bedroom homes increased by 14.3%, 4 bedroom homes did not change, and 5+ bedroom homes increased by 105.4%.
Housing Supply in Loudon, TN
How many homes are available in Loudon, TN?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
249 | 246 | -1.2% |
Summary: The Loudon real estate market had 246 homes for sale in May 2024, a 1.2% decrease compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 13 | 11 | -15.4% |
3 Bedrooms | 162 | 166 | +2.5% |
4 Bedrooms | 59 | 57 | -3.4% |
5+ Bedrooms | 14 | 11 | -21.4% |
Summary: The Loudon 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 increased by 2.5%, 4 bedroom homes decreased by 3.4%, and 5+ bedroom homes decreased by 21.4%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
59 | 60 | +1.7% |
Asking Price vs. Sold Price
37 Homes Were Sold
Under Asking
12 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Summary: A total of 60 homes were sold or pending in Loudon in May 2024, up by 1.7% month-over-month. Of the 60 sold homes, 62% were sold under asking, 20% were sold at asking, and 18% were sold over asking.
Days on Market for Loudon, TN
How long does it take to sell a home in Loudon, TN?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
36 Days | 40 Days | +12.1% |
Summary: Homes in Loudon had an average of 40 days on market in May 2024, up by 12.1% compared to last year.
Breakdown of Home Sale Times
39 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
9 Homes Were Sold
Over 90 Days
Summary: During May 2024, 60 homes were sold in Loudon; 65% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.