Is 37341, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 37341 is a seller's market

Buyer's
Market

Difference Since February 2023

Since last year, 37341 has remained a Seller's Market.

Key Takeaway

37341 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 37341, TN

How much do homes in 37341, TN cost?

Median Sold Price

$350,000

$190/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$25,000(+7.7%)

Key Takeaway

Homes in 37341 have sold for 7.7% more than they did a year ago.

Summary: The median home sold price in 37341 was $350,000 in February 2024, up 7.7% from last year, and the median price per square foot was $190.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 --
N/A
2 $220K$225K
+2.3%
3 $300K$336.9K
+12.3%
4 $458.8K$392K
-14.6%
5+ $542.5K$547.8K
+1.0%

Summary: 37341 housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 2.3%, 3 bedroom homes increased by 12.3%, 4 bedroom homes decreased by 14.6%, and 5+ bedroom homes increased by 1%.

Median Sold Price Compared To Nearby Zip Codes

37341
+7.7%
37363
+6.3%
37379
+5.2%
37343
+4.6%
37416
+3.4%

Housing Supply in 37341, TN

How many homes are available in 37341, TN?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
4853+10.4%

Summary: The 37341 real estate market had 53 homes for sale in February 2024, a 10.4% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 11
0.0%
2 20
-100.0%
3 2934
+17.2%
4 1216
+33.3%
5+ 42
-50.0%

Summary: The 37341 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 decreased by 100%, 3 bedroom homes increased by 17.2%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes decreased by 50%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
11110.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 37341, expect to pay close to the asking price. 36.4% of homes here sold near the asking price last month.

Summary: A total of 11 homes were sold or pending in 37341 in February 2024, the same as the previous month. Of the 11 sold homes, 27% were sold under asking, 36% were sold at asking, and 36% were sold over asking.

Days on Market for 37341, TN

How long does it take to sell a home in 37341, TN?

Average Sale Time

Feb 2023Feb 2024CHANGE
54 Days66 Days+22.2%

Summary: Homes in 37341 had an average of 66 days on market in Feb 2024, up by 22.2% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 37341 are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 11 homes were sold in 37341; 18% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 9% 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 27 Days Ago

Newest Listings in 37341, TN

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