Is 37048, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, 37048 has remained a Seller's Market.
Key Takeaway
37048 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 37048, TN
How much do homes in 37048, TN cost?
Median Sold Price
$489,500
$236/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 37048 have sold for 1.1% less than they did a year ago.
Summary: The median home sold price in 37048 was $489,500 in April 2024, down 1.1% from last year, and the median price per square foot was $236.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $450K | $312.4K | -30.6% |
| 3 Bedrooms | $470.2K | $454K | -3.5% |
| 4 Bedrooms | $610K | $670K | +9.8% |
| 5+ Bedrooms | $895K | - | N/A |
Summary: 37048 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 30.6%, 3 bedroom homes decreased by 3.5%, 4 bedroom homes increased by 9.8%, and 5+ bedroom homes did not change.
Housing Supply in 37048, TN
How many homes are available in 37048, TN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 28 | 36 | +28.6% |
Summary: The 37048 real estate market had 36 homes for sale in April 2024, a 28.6% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 1 | +100.0% |
| 3 Bedrooms | 19 | 23 | +21.1% |
| 4 Bedrooms | 8 | 11 | +37.5% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 37048 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 21.1%, 4 bedroom homes increased by 37.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 1 | 8 | +700.0% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 37048, you may be able to get a good deal. 87.5% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in 37048 in April 2024, up by 700.0% month-over-month. Of the 8 sold homes, 88% were sold under asking, 13% were sold at asking, and 0% were sold over asking.
Days on Market for 37048, TN
How long does it take to sell a home in 37048, TN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 54 Days | 37 Days | -32.0% |
Summary: Homes in 37048 had an average of 37 days on market in Apr 2024, down by 32% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 37048 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 8 homes were sold in 37048; 63% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
Listings courtesy of RealTracs Middle Tennessee Regional MLS as distributed by MLS GRID.
© 2024 of the REALTRACS MLS. All rights Reserved.