Is Mount Carmel, 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, Mount Carmel has remained a Seller's Market.
Housing Prices in Mount Carmel, TN
How much do homes in Mount Carmel, TN cost?
Median Sold Price
$253,450
$161/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Mount Carmel was $253,450 in May 2024, up 4.5% from last year, and the median price per square foot was $161.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $70K | $117.5K | +67.9% |
2 Bedrooms | $140K | $162.5K | +16.1% |
3 Bedrooms | $251K | $279.9K | +11.5% |
4 Bedrooms | $262K | $335K | +27.9% |
5+ Bedrooms | $410K | $370K | -9.8% |
Summary: Mount Carmel housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 67.9%, 2 bedroom homes increased by 16.1%, 3 bedroom homes increased by 11.5%, 4 bedroom homes increased by 27.9%, and 5+ bedroom homes decreased by 9.8%.
Median Sold Price Compared To Nearby Cities
Kingsport | $239.9K | $258.5K | +7.8% |
Mount Carmel | $242.5K | $253.4K | +4.5% |
Church Hill | $250K | $255K | +2.0% |
Housing Supply in Mount Carmel, TN
How many homes are available in Mount Carmel, TN?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
16 | 18 | +12.5% |
Summary: The Mount Carmel real estate market had 18 homes for sale in May 2024, a 12.5% increase 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 | 2 | 2 | 0.0% |
3 Bedrooms | 11 | 13 | +18.2% |
4 Bedrooms | 2 | 2 | 0.0% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Mount Carmel 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 remained the same, 3 bedroom homes increased by 18.2%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
6 | 5 | -16.7% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 5 homes were sold or pending in Mount Carmel in May 2024, down by 16.7% month-over-month. Of the 5 sold homes, 60% were sold under asking, 20% were sold at asking, and 20% were sold over asking.
Days on Market for Mount Carmel, TN
How long does it take to sell a home in Mount Carmel, TN?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
47 Days | 54 Days | +14.6% |
Summary: Homes in Mount Carmel had an average of 54 days on market in May 2024, up by 14.6% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 5 homes were sold in Mount Carmel; 0% of homes were sold within 30 days, 100% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.