Is 37620, 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, 37620 has remained a Seller's Market.
Housing Prices in 37620, TN
How much do homes in 37620, TN cost?
Median Sold Price
$224,700
$143/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 37620 was $224,700 in March 2024, up 4.5% from last year, and the median price per square foot was $143.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $160K | - | N/A |
2 Bedrooms | $145K | $165K | +13.8% |
3 Bedrooms | $220.9K | $243.7K | +10.3% |
4 Bedrooms | $279.9K | $347.4K | +24.1% |
5+ Bedrooms | $347K | $399.9K | +15.2% |
Summary: 37620 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 increased by 13.8%, 3 bedroom homes increased by 10.3%, 4 bedroom homes increased by 24.1%, and 5+ bedroom homes increased by 15.2%.
Housing Supply in 37620, TN
How many homes are available in 37620, TN?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
100 | 115 | +15.0% |
Summary: The 37620 real estate market had 115 homes for sale in March 2024, a 15.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 1 | +100.0% |
2 Bedrooms | 28 | 28 | 0.0% |
3 Bedrooms | 42 | 55 | +31.0% |
4 Bedrooms | 21 | 24 | +14.3% |
5+ Bedrooms | 9 | 7 | -22.2% |
Summary: The 37620 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 31%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes decreased by 22.2%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
28 | 27 | -3.6% |
Asking Price vs. Sold Price
17 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Summary: A total of 27 homes were sold or pending in 37620 in March 2024, down by 3.6% month-over-month. Of the 27 sold homes, 63% were sold under asking, 15% were sold at asking, and 22% were sold over asking.
Days on Market for 37620, TN
How long does it take to sell a home in 37620, TN?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
48 Days | 72 Days | +50.4% |
Summary: Homes in 37620 had an average of 72 days on market in Mar 2024, up by 50.4% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
13 Homes Were Sold
In 30 - 90 Days
10 Homes Were Sold
Over 90 Days
Summary: During March 2024, 27 homes were sold in 37620; 15% of homes were sold within 30 days, 48% of homes were sold within 30 to 90 days, and 37% of homes were sold over 90 days.