The Appalachian Team
Rockford, TN
Single-Family Homes
Maelea Galyon | Eric Rice | Troy Galyon
Rockford, TN
Sat May 18 2024
This week the median list price for Rockford, TN is $322,500 with the market action index hovering around 42. This is an increase over last month's market action index of 39. Inventory has increased to 8.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
While the Market Action Index shows some strengthening in the last few weeks, prices have settled in a bit of a plateau. We are currently in a Seller’s market so prices will likely resume their climb should this trend persist.
Real-Time Market Profile
| Median List Price | $322,500 | |
| Median Price of New Listings | $245,000 | |
| Per Square Foot | $216 | |
| Average Days on Market | 88 | |
| Median Days on Market | 39 | |
| Price Decreased | 63% | |
| Price Increased | 0% | |
| Relisted | 0% | |
| Inventory | 8 | |
| Median Rent | ||
| Market Action | 42 | |
| Slight Seller's Advantage | ||
Despite this week’s down tic, the market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of this shift.
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $1,392,500 | 4,847 | 5 - 10 acres | 4 | 4.3 | 40 | 0 | 0 | 38 |
| $393,000 | 1,820 | 0.5 - 1 acre | 3 | 2.5 | 29 | 0 | 0 | 140 |
| $251,500 | 1,024 | 0.25 - 0.5 acre | 2 | 1 | 76 | 1 | 1 | 171 |
| $157,000 | 1,379 | 0.5 - 1 acre | 3 | 1.5 | 85 | 1 | 0 | 3 |