Is 37642, 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, 37642 has remained a Seller's Market.
Key Takeaway
37642 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 37642, TN
How much do homes in 37642, TN cost?
Median Sold Price
$262,500
$156/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 37642 have sold for 7.1% more than they did a year ago.
Summary: The median home sold price in 37642 was $262,500 in March 2024, up 7.1% from last year, and the median price per square foot was $156.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $375K | $55K | -85.3% |
| 2 Bedrooms | $115K | $188K | +63.5% |
| 3 Bedrooms | $235K | $255K | +8.5% |
| 4 Bedrooms | $280K | $315K | +12.5% |
| 5+ Bedrooms | $380K | $317.4K | -16.5% |
Summary: 37642 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 85.3%, 2 bedroom homes increased by 63.5%, 3 bedroom homes increased by 8.5%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes decreased by 16.5%.
Housing Supply in 37642, TN
How many homes are available in 37642, TN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 52 | 58 | +11.5% |
Summary: The 37642 real estate market had 58 homes for sale in March 2024, a 11.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 4 | 9 | +125.0% |
| 3 Bedrooms | 33 | 33 | 0.0% |
| 4 Bedrooms | 12 | 12 | 0.0% |
| 5+ Bedrooms | 3 | 4 | +33.3% |
Summary: The 37642 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 125%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 8 | 14 | +75.0% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 37642, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 14 homes were sold or pending in 37642 in March 2024, up by 75.0% month-over-month. Of the 14 sold homes, 50% were sold under asking, 29% were sold at asking, and 21% were sold over asking.
Days on Market for 37642, TN
How long does it take to sell a home in 37642, TN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 103 Days | 64 Days | -37.9% |
Summary: Homes in 37642 had an average of 64 days on market in Mar 2024, down by 37.9% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 37642 has remained consistent over time.
Summary: During March 2024, 14 homes were sold in 37642; 14% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 36% of homes were sold over 90 days.
