Is 37387, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 37387 is a seller's market

Buyer's
Market

Difference Since Last Month

Last month, 37387 was a Buyer's Market.

Key Takeaway

37387 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 37387, TN

How much do homes in 37387, TN cost?

Median Sold Price

$430,500

$344/sqft

Based on all homes sold in February 2024.

Difference Since Last Month

+$140,500(+48.4%)

Key Takeaway

Homes in 37387 have sold for 48.4% more than they did a month ago.

Summary: The median home sold price in 37387 was $430,500 in February 2024, up 48.4% from last month, and the median price per square foot was $344.

Median Sold Price By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 $290K-
N/A
2 -$516K
N/A
3 -$159K
N/A
4 --
N/A
5+ --
N/A

Summary: 37387 housing prices by bedroom type for February 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Housing Supply in 37387, TN

How many homes are available in 37387, TN?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
1723+35.3%

Summary: The 37387 real estate market had 23 homes for sale in February 2024, a 35.3% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 43
-25.0%
2 69
+50.0%
3 46
+50.0%
4 24
+100.0%
5+ 11
0.0%

Summary: The 37387 housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 50%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
24+100.0%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 37387, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 4 homes were sold or pending in 37387 in February 2024, up by 100.0% month-over-month. Of the 4 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for 37387, TN

How long does it take to sell a home in 37387, TN?

Average Sale Time

Jan 2024Feb 2024CHANGE
237 Days32 Days-86.3%

Summary: Homes in 37387 had an average of 32 days on market in Feb 2024, down by 86.3% compared to last month.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 37387 are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 4 homes were sold in 37387; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% 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 37387, TN

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