Is 37408, 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, 37408 was a Neutral Market.
Key Takeaway
37408 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 37408, TN
How much do homes in 37408, TN cost?
Median Sold Price
$404,700
$266/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 37408 have sold for 13.9% less than they did a year ago.
Summary: The median home sold price in 37408 was $404,700 in March 2024, down 13.9% from last year, and the median price per square foot was $266.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $310K | $290K | -6.5% |
| 2 Bedrooms | $388K | $347.4K | -10.5% |
| 3 Bedrooms | $550K | $476.1K | -13.4% |
| 4 Bedrooms | $599K | $599K | 0.0% |
| 5+ Bedrooms | - | $760K | N/A |
Summary: 37408 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 6.5%, 2 bedroom homes decreased by 10.5%, 3 bedroom homes decreased by 13.4%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Housing Supply in 37408, TN
How many homes are available in 37408, TN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 54 | 58 | +7.4% |
Summary: The 37408 real estate market had 58 homes for sale in March 2024, a 7.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 9 | 10 | +11.1% |
| 2 Bedrooms | 6 | 12 | +100.0% |
| 3 Bedrooms | 28 | 28 | 0.0% |
| 4 Bedrooms | 11 | 8 | -27.3% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 37408 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 11.1%, 2 bedroom homes increased by 100%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 27.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 7 | 18 | +157.1% |
Asking Price vs. Sold Price
15 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 37408, you may be able to get a good deal. 83.3% of homes here sold below asking price last month.
Summary: A total of 18 homes were sold or pending in 37408 in March 2024, up by 157.1% month-over-month. Of the 18 sold homes, 83% were sold under asking, 17% were sold at asking, and 0% were sold over asking.
Days on Market for 37408, TN
How long does it take to sell a home in 37408, TN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 4 Days | 46 Days | +929.6% |
Summary: Homes in 37408 had an average of 46 days on market in Mar 2024, up by 929.6% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 37408 has remained consistent over time.
Summary: During March 2024, 18 homes were sold in 37408; 0% of homes were sold within 30 days, 17% 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.