Is 37167, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 37167 is a seller's market

Buyer's
Market

Difference Since February 2023

Since last year, 37167 has remained a Seller's Market.

Key Takeaway

37167 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 37167, TN

How much do homes in 37167, TN cost?

Median Sold Price

$414,127

$216/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$21,267(+5.4%)

Key Takeaway

Homes in 37167 have sold for 5.4% more than they did a year ago.

Summary: The median home sold price in 37167 was $414,127 in February 2024, up 5.4% from last year, and the median price per square foot was $216.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $400K$358K
-10.5%
2 $276.7K$308K
+11.3%
3 $369.9K$374.9K
+1.3%
4 $537K$500.2K
-6.8%
5+ $607K$582K
-4.1%

Summary: 37167 housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 10.5%, 2 bedroom homes increased by 11.3%, 3 bedroom homes increased by 1.3%, 4 bedroom homes decreased by 6.8%, and 5+ bedroom homes decreased by 4.1%.

Median Sold Price Compared To Nearby Zip Codes

37014
+5.8%
37167
+5.4%
37086
+2.2%
37135
0.2%
37129
-2.1%

Housing Supply in 37167, TN

How many homes are available in 37167, TN?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
250246-1.6%

Summary: The 37167 real estate market had 246 homes for sale in February 2024, a 1.6% decrease compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 1622
+37.5%
3 9598
+3.2%
4 11099
-10.0%
5+ 2927
-6.9%

Summary: The 37167 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 increased by 37.5%, 3 bedroom homes increased by 3.2%, 4 bedroom homes decreased by 10%, and 5+ bedroom homes decreased by 6.9%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
5953-10.2%

Asking Price vs. Sold Price

22 Homes Were Sold
Under Asking

24 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 37167, expect to pay close to the asking price. 46.2% of homes here sold near the asking price last month.

Summary: A total of 53 homes were sold or pending in 37167 in February 2024, down by 10.2% month-over-month. Of the 52 sold homes, 42% were sold under asking, 46% were sold at asking, and 12% were sold over asking.

Days on Market for 37167, TN

How long does it take to sell a home in 37167, TN?

Average Sale Time

Feb 2023Feb 2024CHANGE
40 Days22 Days-44.9%

Summary: Homes in 37167 had an average of 22 days on market in Feb 2024, down by 44.9% compared to last year.

Breakdown of Home Sale Times

39 Homes Were Sold
Under 30 Days

12 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 37167 are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 53 homes were sold in 37167; 74% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 28 Days Ago

Newest Listings in 37167, TN

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