Is 37405, 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, 37405 has remained a Seller's Market.
Housing Prices in 37405, TN
How much do homes in 37405, TN cost?
Median Sold Price
$466,428
$257/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 37405 was $466,428 in March 2024, up 9.6% from last year, and the median price per square foot was $257.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $172K | $150K | -12.8% |
2 Bedrooms | $322.2K | $355K | +10.2% |
3 Bedrooms | $466.3K | $515K | +10.4% |
4 Bedrooms | $640K | $677.7K | +5.9% |
5+ Bedrooms | $927K | $1.0M | +7.9% |
Summary: 37405 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 12.8%, 2 bedroom homes increased by 10.2%, 3 bedroom homes increased by 10.4%, 4 bedroom homes increased by 5.9%, and 5+ bedroom homes increased by 7.9%.
Housing Supply in 37405, TN
How many homes are available in 37405, TN?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
191 | 225 | +17.8% |
Summary: The 37405 real estate market had 225 homes for sale in March 2024, a 17.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 12 | 15 | +25.0% |
2 Bedrooms | 67 | 66 | -1.5% |
3 Bedrooms | 60 | 75 | +25.0% |
4 Bedrooms | 35 | 50 | +42.9% |
5+ Bedrooms | 17 | 19 | +11.8% |
Summary: The 37405 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25%, 2 bedroom homes decreased by 1.5%, 3 bedroom homes increased by 25%, 4 bedroom homes increased by 42.9%, and 5+ bedroom homes increased by 11.8%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
30 | 43 | +43.3% |
Asking Price vs. Sold Price
18 Homes Were Sold
Under Asking
20 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 43 homes were sold or pending in 37405 in March 2024, up by 43.3% month-over-month. Of the 43 sold homes, 42% were sold under asking, 47% were sold at asking, and 12% were sold over asking.
Days on Market for 37405, TN
How long does it take to sell a home in 37405, TN?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
39 Days | 81 Days | +106.8% |
Summary: Homes in 37405 had an average of 81 days on market in Mar 2024, up by 106.8% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During March 2024, 43 homes were sold in 37405; 9% of homes were sold within 30 days, 5% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.