Is 37640, 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, 37640 was a Neutral Market.
Key Takeaway
37640 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 37640, TN
How much do homes in 37640, TN cost?
Median Sold Price
$400,000
$218/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 37640 have sold for 14.3% more than they did a year ago.
Summary: The median home sold price in 37640 was $400,000 in March 2024, up 14.3% from last year, and the median price per square foot was $218.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $176K | $184K | +4.5% |
| 2 Bedrooms | $296K | $364.9K | +23.3% |
| 3 Bedrooms | $344.9K | $485K | +40.6% |
| 4 Bedrooms | $860K | $392.5K | -54.4% |
| 5+ Bedrooms | $500K | $1.4M | +180.0% |
Summary: 37640 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.5%, 2 bedroom homes increased by 23.3%, 3 bedroom homes increased by 40.6%, 4 bedroom homes decreased by 54.4%, and 5+ bedroom homes increased by 180%.
Housing Supply in 37640, TN
How many homes are available in 37640, TN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 20 | 24 | +20.0% |
Summary: The 37640 real estate market had 24 homes for sale in March 2024, a 20.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 3 | 3 | 0.0% |
| 3 Bedrooms | 9 | 9 | 0.0% |
| 4 Bedrooms | 6 | 6 | 0.0% |
| 5+ Bedrooms | 1 | 4 | +300.0% |
Summary: The 37640 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 remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 300%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 2 | 3 | +50.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 37640, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in 37640 in March 2024, up by 50.0% month-over-month. Of the 3 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for 37640, TN
How long does it take to sell a home in 37640, TN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 150 Days | 76 Days | -48.9% |
Summary: Homes in 37640 had an average of 76 days on market in Mar 2024, down by 48.9% compared to last year.
Breakdown of Home Sale Times
0 Homes Were 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 37640 has remained consistent over time.
Summary: During March 2024, 3 homes were sold in 37640; 0% of homes were sold within 30 days, 67% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
Listings courtesy of RealTracs Middle Tennessee Regional MLS as distributed by MLS GRID.
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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.