Is 37771, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 37771 is a seller's market

Buyer's
Market

Difference Since March 2023

Since last year, 37771 has remained a Seller's Market.

Key Takeaway

37771 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 37771, TN

How much do homes in 37771, TN cost?

Median Sold Price

$329,000

$202/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$46,395(+16.4%)

Key Takeaway

Homes in 37771 have sold for 16.4% more than they did a year ago.

Summary: The median home sold price in 37771 was $329,000 in March 2024, up 16.4% from last year, and the median price per square foot was $202.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $70.5K-
N/A
2 $250K$291.4K
+16.6%
3 $279.8K$355K
+26.8%
4 $402.1K$469.9K
+16.9%
5+ $369.5K$484.9K
+31.2%

Summary: 37771 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 16.6%, 3 bedroom homes increased by 26.8%, 4 bedroom homes increased by 16.9%, and 5+ bedroom homes increased by 31.2%.

Median Sold Price Compared To Nearby Zip Codes

37772
+18.3%
37771
+16.4%
37774
+10.1%
37934
+6.5%
37932
-0.9%

Housing Supply in 37771, TN

How many homes are available in 37771, TN?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
7977-2.5%

Summary: The 37771 real estate market had 77 homes for sale in March 2024, a 2.5% decrease compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 11
0.0%
2 1612
-25.0%
3 3941
+5.1%
4 2120
-4.8%
5+ 23
+50.0%

Summary: The 37771 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 decreased by 25%, 3 bedroom homes increased by 5.1%, 4 bedroom homes decreased by 4.8%, and 5+ bedroom homes increased by 50%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
1719+11.8%

Asking Price vs. Sold Price

9 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 37771, you may be able to get a good deal. 47.4% of homes here sold below asking price last month.

Summary: A total of 19 homes were sold or pending in 37771 in March 2024, up by 11.8% month-over-month. Of the 19 sold homes, 47% were sold under asking, 26% were sold at asking, and 26% were sold over asking.

Days on Market for 37771, TN

How long does it take to sell a home in 37771, TN?

Average Sale Time

Mar 2023Mar 2024CHANGE
39 Days33 Days-14.7%

Summary: Homes in 37771 had an average of 33 days on market in Mar 2024, down by 14.7% compared to last year.

Breakdown of Home Sale Times

10 Homes Were Sold
Under 30 Days

8 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 37771 are selling fast, if you're buying plan to act quickly.

Summary: During March 2024, 19 homes were sold in 37771; 53% of homes were sold within 30 days, 42% of homes were sold within 30 to 90 days, and 5% 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 25 Days Ago

Newest Listings in 37771, TN

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