Is 37711, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 37711 is a neutral's market

Buyer's
Market

Difference Since February 2023

At the same time last year, 37711 was a Seller's Market.

Key Takeaway

37711 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in 37711, TN

How much do homes in 37711, TN cost?

Median Sold Price

$223,500

$154/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$46,000(+25.9%)

Key Takeaway

Homes in 37711 have sold for 25.9% more than they did a year ago.

Summary: The median home sold price in 37711 was $223,500 in February 2024, up 25.9% from last year, and the median price per square foot was $154.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $75K$68.5K
-8.7%
2 $100K$147K
+47.0%
3 $180K$235K
+30.6%
4 $319.9K$151.9K
-52.5%
5+ -$265K
N/A

Summary: 37711 housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 8.7%, 2 bedroom homes increased by 47%, 3 bedroom homes increased by 30.6%, 4 bedroom homes decreased by 52.5%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Zip Codes

37810
+63.4%
37711
+25.9%
37745
+14.8%
37891
-30.4%

Housing Supply in 37711, TN

How many homes are available in 37711, TN?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
1918-5.3%

Summary: The 37711 real estate market had 18 homes for sale in February 2024, a 5.3% decrease compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 21
-50.0%
3 1313
0.0%
4 33
0.0%
5+ 11
0.0%

Summary: The 37711 housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 50%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
43-25.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 37711, 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 37711 in February 2024, down by 25.0% 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 37711, TN

How long does it take to sell a home in 37711, TN?

Average Sale Time

Feb 2023Feb 2024CHANGE
80 Days118 Days+46.6%

Summary: Homes in 37711 had an average of 118 days on market in Feb 2024, up by 46.6% compared to last year.

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in 37711 has remained consistent over time.

Summary: During February 2024, 3 homes were sold in 37711; 0% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 27 Days Ago

Newest Listings in 37711, TN

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