Is 37027, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
At the same time last year, 37027 was a Seller's Market.
Housing Prices in 37027, TN
How much do homes in 37027, TN cost?
Median Sold Price
$1,031,752
$299/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in 37027 was $1,031,752 in February 2024, up 0.5% from last year, and the median price per square foot was $299.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $230K | $265.2K | +15.3% |
2 Bedrooms | $350K | $425K | +21.4% |
3 Bedrooms | $600K | $595.5K | -0.8% |
4 Bedrooms | $1.0M | $1.0M | -0.2% |
5+ Bedrooms | $1.9M | $1.8M | -3.9% |
Summary: 37027 housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 15.3%, 2 bedroom homes increased by 21.4%, 3 bedroom homes decreased by 0.8%, 4 bedroom homes decreased by 0.2%, and 5+ bedroom homes decreased by 3.9%.
Housing Supply in 37027, TN
How many homes are available in 37027, TN?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
280 | 317 | +13.2% |
Summary: The 37027 real estate market had 317 homes for sale in February 2024, a 13.2% increase compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 2 | 0.0% |
2 Bedrooms | 18 | 17 | -5.6% |
3 Bedrooms | 43 | 41 | -4.7% |
4 Bedrooms | 97 | 119 | +22.7% |
5+ Bedrooms | 120 | 138 | +15.0% |
Summary: The 37027 housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 5.6%, 3 bedroom homes decreased by 4.7%, 4 bedroom homes increased by 22.7%, and 5+ bedroom homes increased by 15%.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
43 | 42 | -2.3% |
Asking Price vs. Sold Price
24 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Summary: A total of 42 homes were sold or pending in 37027 in February 2024, down by 2.3% month-over-month. Of the 42 sold homes, 57% were sold under asking, 24% were sold at asking, and 19% were sold over asking.
Days on Market for 37027, TN
How long does it take to sell a home in 37027, TN?
Average Sale Time
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
35 Days | 69 Days | +96.3% |
Summary: Homes in 37027 had an average of 69 days on market in Feb 2024, up by 96.3% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
16 Homes Were Sold
In 30 - 90 Days
9 Homes Were Sold
Over 90 Days
Summary: During February 2024, 42 homes were sold in 37027; 38% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 21% of homes were sold over 90 days.