Is Rutledge, 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, Rutledge has remained a Seller's Market.
Key Takeaway
Rutledge is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Rutledge, TN
How much do homes in Rutledge, TN cost?
Median Sold Price
$245,000
$154/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Rutledge have sold for 14% less than they did a year ago.
Summary: The median home sold price in Rutledge was $245,000 in May 2024, down 14% from last year, and the median price per square foot was $154.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $199K | N/A |
| 2 Bedrooms | $272.5K | $233.9K | -14.1% |
| 3 Bedrooms | $270K | $248.9K | -7.8% |
| 4 Bedrooms | $357.5K | $799.9K | +123.7% |
| 5+ Bedrooms | - | - | N/A |
Summary: Rutledge 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 decreased by 14.1%, 3 bedroom homes decreased by 7.8%, 4 bedroom homes increased by 123.7%, and 5+ bedroom homes did not change.
Housing Supply in Rutledge, TN
How many homes are available in Rutledge, TN?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 46 | 40 | -13.0% |
Summary: The Rutledge real estate market had 40 homes for sale in May 2024, a 13.0% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 5 | 3 | -40.0% |
| 3 Bedrooms | 38 | 35 | -7.9% |
| 4 Bedrooms | 1 | 1 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Rutledge housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 40%, 3 bedroom homes decreased by 7.9%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 8 | 12 | +50.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Rutledge, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 12 homes were sold or pending in Rutledge in May 2024, up by 50.0% month-over-month. Of the 12 sold homes, 33% were sold under asking, 17% were sold at asking, and 50% were sold over asking.
Days on Market for Rutledge, TN
How long does it take to sell a home in Rutledge, TN?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 31 Days | 69 Days | +121.5% |
Summary: Homes in Rutledge had an average of 69 days on market in May 2024, up by 121.5% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Rutledge has remained consistent over time.
Summary: During May 2024, 12 homes were sold in Rutledge; 25% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 25% 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. 
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Greater Chattanooga Association of Realtors®. 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. All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Copyright© 2024 Greater Chattanooga Association of REALTORS®.