Is 37221, 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, 37221 has remained a Seller's Market.
Key Takeaway
37221 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 37221, TN
How much do homes in 37221, TN cost?
Median Sold Price
$467,966
$248/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
The sold price of homes in 37221 has remained the same since last year.
Summary: The median home sold price in 37221 was $467,966 in March 2024, up 0.2% from last year, and the median price per square foot was $248.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $233.8K | $224.9K | -3.8% |
| 2 Bedrooms | $359.9K | $372.3K | +3.4% |
| 3 Bedrooms | $475K | $465.3K | -2.0% |
| 4 Bedrooms | $620.8K | $689.5K | +11.1% |
| 5+ Bedrooms | $837K | $775K | -7.4% |
Summary: 37221 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 3.8%, 2 bedroom homes increased by 3.4%, 3 bedroom homes decreased by 2%, 4 bedroom homes increased by 11.1%, and 5+ bedroom homes decreased by 7.4%.
Housing Supply in 37221, TN
How many homes are available in 37221, TN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 207 | 223 | +7.7% |
Summary: The 37221 real estate market had 223 homes for sale in March 2024, a 7.7% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 2 | -33.3% |
| 2 Bedrooms | 52 | 61 | +17.3% |
| 3 Bedrooms | 87 | 82 | -5.7% |
| 4 Bedrooms | 56 | 62 | +10.7% |
| 5+ Bedrooms | 9 | 16 | +77.8% |
Summary: The 37221 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes increased by 17.3%, 3 bedroom homes decreased by 5.7%, 4 bedroom homes increased by 10.7%, and 5+ bedroom homes increased by 77.8%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 51 | 59 | +15.7% |
Asking Price vs. Sold Price
37 Homes Were Sold
Under Asking
15 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 37221, you may be able to get a good deal. 62.7% of homes here sold below asking price last month.
Summary: A total of 59 homes were sold or pending in 37221 in March 2024, up by 15.7% month-over-month. Of the 59 sold homes, 63% were sold under asking, 25% were sold at asking, and 12% were sold over asking.
Days on Market for 37221, TN
How long does it take to sell a home in 37221, TN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 26 Days | 29 Days | +7.9% |
Summary: Homes in 37221 had an average of 29 days on market in Mar 2024, up by 7.9% compared to last year.
Breakdown of Home Sale Times
41 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 37221 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 59 homes were sold in 37221; 69% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 10% 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.