Is 37087, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, 37087 has remained a Seller's Market.
Housing Prices in 37087, TN
How much do homes in 37087, TN cost?
Median Sold Price
$399,364
$211/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 37087 was $399,364 in March 2024, up 5% from last year, and the median price per square foot was $211.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $330K | - | N/A |
2 Bedrooms | $263.5K | $255.6K | -3.0% |
3 Bedrooms | $339.9K | $362.9K | +6.8% |
4 Bedrooms | $549.8K | $529.6K | -3.7% |
5+ Bedrooms | $595.3K | $500K | -16.0% |
Summary: 37087 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 3%, 3 bedroom homes increased by 6.8%, 4 bedroom homes decreased by 3.7%, and 5+ bedroom homes decreased by 16%.
Housing Supply in 37087, TN
How many homes are available in 37087, TN?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
353 | 392 | +11.0% |
Summary: The 37087 real estate market had 392 homes for sale in March 2024, a 11.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 28 | 30 | +7.1% |
3 Bedrooms | 174 | 190 | +9.2% |
4 Bedrooms | 124 | 139 | +12.1% |
5+ Bedrooms | 26 | 32 | +23.1% |
Summary: The 37087 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 7.1%, 3 bedroom homes increased by 9.2%, 4 bedroom homes increased by 12.1%, and 5+ bedroom homes increased by 23.1%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
65 | 77 | +18.5% |
Asking Price vs. Sold Price
36 Homes Were Sold
Under Asking
30 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Summary: A total of 77 homes were sold or pending in 37087 in March 2024, up by 18.5% month-over-month. Of the 76 sold homes, 47% were sold under asking, 39% were sold at asking, and 13% were sold over asking.
Days on Market for 37087, TN
How long does it take to sell a home in 37087, TN?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
29 Days | 43 Days | +47.4% |
Summary: Homes in 37087 had an average of 43 days on market in Mar 2024, up by 47.4% compared to last year.
Breakdown of Home Sale Times
51 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
15 Homes Were Sold
Over 90 Days
Summary: During March 2024, 77 homes were sold in 37087; 66% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 19% of homes were sold over 90 days.