Is 37216, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
Since last year, 37216 has remained a Seller's Market.
Housing Prices in 37216, TN
How much do homes in 37216, TN cost?
Median Sold Price
$527,704
$322/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in 37216 was $527,704 in February 2024, down 4.1% from last year, and the median price per square foot was $322.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $299K | $300K | 0.3% |
2 Bedrooms | $412K | $412.5K | 0.1% |
3 Bedrooms | $575K | $545K | -5.2% |
4 Bedrooms | $700K | $720K | +2.9% |
5+ Bedrooms | $510.1K | $720K | +41.1% |
Summary: 37216 housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.3%, 2 bedroom homes increased by 0.1%, 3 bedroom homes decreased by 5.2%, 4 bedroom homes increased by 2.9%, and 5+ bedroom homes increased by 41.1%.
Housing Supply in 37216, TN
How many homes are available in 37216, TN?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
141 | 174 | +23.4% |
Summary: The 37216 real estate market had 174 homes for sale in February 2024, a 23.4% increase compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 7 | 8 | +14.3% |
2 Bedrooms | 22 | 24 | +9.1% |
3 Bedrooms | 68 | 81 | +19.1% |
4 Bedrooms | 40 | 52 | +30.0% |
5+ Bedrooms | 4 | 9 | +125.0% |
Summary: The 37216 housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 14.3%, 2 bedroom homes increased by 9.1%, 3 bedroom homes increased by 19.1%, 4 bedroom homes increased by 30%, and 5+ bedroom homes increased by 125%.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
13 | 35 | +169.2% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
18 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Summary: A total of 35 homes were sold or pending in 37216 in February 2024, up by 169.2% month-over-month. Of the 35 sold homes, 29% were sold under asking, 51% were sold at asking, and 20% were sold over asking.
Days on Market for 37216, TN
How long does it take to sell a home in 37216, TN?
Average Sale Time
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
30 Days | 27 Days | -10.1% |
Summary: Homes in 37216 had an average of 27 days on market in Feb 2024, down by 10.1% compared to last year.
Breakdown of Home Sale Times
23 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During February 2024, 35 homes were sold in 37216; 66% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.