Is 37218, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, 37218 was a Seller's Market.
Key Takeaway
37218 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 37218, TN
How much do homes in 37218, TN cost?
Median Sold Price
$419,585
$254/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 37218 have sold for 1.1% more than they did a year ago.
Summary: The median home sold price in 37218 was $419,585 in April 2024, up 1.1% from last year, and the median price per square foot was $254.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $418K | - | N/A |
| 2 Bedrooms | $307.7K | $294.9K | -4.2% |
| 3 Bedrooms | $384K | $420K | +9.4% |
| 4 Bedrooms | $730K | $460.1K | -37.0% |
| 5+ Bedrooms | $540K | $429.9K | -20.4% |
Summary: 37218 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 4.2%, 3 bedroom homes increased by 9.4%, 4 bedroom homes decreased by 37%, and 5+ bedroom homes decreased by 20.4%.
Housing Supply in 37218, TN
How many homes are available in 37218, TN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 115 | 128 | +11.3% |
Summary: The 37218 real estate market had 128 homes for sale in April 2024, a 11.3% 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 | 17 | 17 | 0.0% |
| 3 Bedrooms | 60 | 70 | +16.7% |
| 4 Bedrooms | 30 | 34 | +13.3% |
| 5+ Bedrooms | 8 | 7 | -12.5% |
Summary: The 37218 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 remained the same, 3 bedroom homes increased by 16.7%, 4 bedroom homes increased by 13.3%, and 5+ bedroom homes decreased by 12.5%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 14 | 18 | +28.6% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 37218, you may be able to get a good deal. 44.4% of homes here sold below asking price last month.
Summary: A total of 18 homes were sold or pending in 37218 in April 2024, up by 28.6% month-over-month. Of the 18 sold homes, 44% were sold under asking, 17% were sold at asking, and 39% were sold over asking.
Days on Market for 37218, TN
How long does it take to sell a home in 37218, TN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 28 Days | 37 Days | +30.3% |
Summary: Homes in 37218 had an average of 37 days on market in Apr 2024, up by 30.3% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 37218 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 18 homes were sold in 37218; 50% of homes were sold within 30 days, 39% of homes were sold within 30 to 90 days, and 6% 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.