Is 37407, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, 37407 was a Neutral Market.
Key Takeaway
37407 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 37407, TN
How much do homes in 37407, TN cost?
Median Sold Price
$132,653
$116/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 37407 have sold for 5.2% less than they did a year ago.
Summary: The median home sold price in 37407 was $132,653 in March 2024, down 5.2% from last year, and the median price per square foot was $116.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $269K | N/A |
| 2 Bedrooms | $96K | $92K | -4.2% |
| 3 Bedrooms | $162.5K | $150K | -7.7% |
| 4 Bedrooms | $175K | $149.9K | -14.3% |
| 5+ Bedrooms | - | $225K | N/A |
Summary: 37407 housing prices by bedroom type for March 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 decreased by 7.7%, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes did not change.
Housing Supply in 37407, TN
How many homes are available in 37407, TN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 50 | 36 | -28.0% |
Summary: The 37407 real estate market had 36 homes for sale in March 2024, a 28.0% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 17 | 12 | -29.4% |
| 3 Bedrooms | 30 | 22 | -26.7% |
| 4 Bedrooms | 0 | 0 | 0.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 37407 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 29.4%, 3 bedroom homes decreased by 26.7%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 17 | 15 | -11.8% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 37407, you may be able to get a good deal. 40% of homes here sold below asking price last month.
Summary: A total of 15 homes were sold or pending in 37407 in March 2024, down by 11.8% month-over-month. Of the 15 sold homes, 40% were sold under asking, 40% were sold at asking, and 20% were sold over asking.
Days on Market for 37407, TN
We’re sorry, we don't have information for this market at the moment
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 37407 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 15 homes were sold in 37407; 7% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% 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.