Is 37616, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, 37616 has remained a Seller's Market.
Key Takeaway
37616 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 37616, TN
How much do homes in 37616, TN cost?
Median Sold Price
$265,000
$166/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 37616 have sold for 14.5% more than they did a year ago.
Summary: The median home sold price in 37616 was $265,000 in April 2024, up 14.5% from last year, and the median price per square foot was $166.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $235K | N/A |
| 2 Bedrooms | $152.5K | $249.9K | +63.9% |
| 3 Bedrooms | $224K | $265.5K | +18.5% |
| 4 Bedrooms | $575K | $542K | -5.7% |
| 5+ Bedrooms | $600K | $265K | -55.8% |
Summary: 37616 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 63.9%, 3 bedroom homes increased by 18.5%, 4 bedroom homes decreased by 5.7%, and 5+ bedroom homes decreased by 55.8%.
Housing Supply in 37616, TN
How many homes are available in 37616, TN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 22 | 19 | -13.6% |
Summary: The 37616 real estate market had 19 homes for sale in April 2024, a 13.6% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 5 | 6 | +20.0% |
| 3 Bedrooms | 12 | 8 | -33.3% |
| 4 Bedrooms | 2 | 2 | 0.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The 37616 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 20%, 3 bedroom homes decreased by 33.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 6 | 4 | -33.3% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 37616, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in 37616 in April 2024, down by 33.3% month-over-month. Of the 4 sold homes, 75% were sold under asking, 25% were sold at asking, and 0% were sold over asking.
Days on Market for 37616, TN
How long does it take to sell a home in 37616, TN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 107 Days | 64 Days | -40.3% |
Summary: Homes in 37616 had an average of 64 days on market in Apr 2024, down by 40.3% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 37616 has remained consistent over time.
Summary: During April 2024, 4 homes were sold in 37616; 25% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Knoxville Area Association of REALTORS® Multiple Listing Service. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some or all of the listings may not belong to the firm whose website is being visited. Real estate listings held by brokerage firms other than this broker are indicated by detailed information about them such as the name of the listing firms.