Is 37701, 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, 37701 has remained a Seller's Market.
Key Takeaway
37701 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 37701, TN
How much do homes in 37701, TN cost?
Median Sold Price
$276,000
$233/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 37701 have sold for 6.2% more than they did a year ago.
Summary: The median home sold price in 37701 was $276,000 in March 2024, up 6.2% from last year, and the median price per square foot was $233.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $207.4K | $238.9K | +15.2% |
| 3 Bedrooms | $274.7K | $288K | +4.8% |
| 4 Bedrooms | $607.5K | $629.5K | +3.6% |
| 5+ Bedrooms | $729.9K | $357.5K | -51.0% |
Summary: 37701 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 15.2%, 3 bedroom homes increased by 4.8%, 4 bedroom homes increased by 3.6%, and 5+ bedroom homes decreased by 51%.
Housing Supply in 37701, TN
How many homes are available in 37701, TN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 29 | 37 | +27.6% |
Summary: The 37701 real estate market had 37 homes for sale in March 2024, a 27.6% 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 | 6 | 12 | +100.0% |
| 3 Bedrooms | 15 | 18 | +20.0% |
| 4 Bedrooms | 6 | 5 | -16.7% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The 37701 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 100%, 3 bedroom homes increased by 20%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 6 | 16 | +166.7% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 37701, you may be able to get a good deal. 56.3% of homes here sold below asking price last month.
Summary: A total of 16 homes were sold or pending in 37701 in March 2024, up by 166.7% month-over-month. Of the 16 sold homes, 56% were sold under asking, 19% were sold at asking, and 25% were sold over asking.
Days on Market for 37701, TN
How long does it take to sell a home in 37701, TN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 10 Days | 17 Days | +64.6% |
Summary: Homes in 37701 had an average of 17 days on market in Mar 2024, up by 64.6% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 37701 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 16 homes were sold in 37701; 69% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 0% 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.