Is 37803, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 37803 is a seller's market

Buyer's
Market

Difference Since February 2023

Since last year, 37803 has remained a Seller's Market.

Key Takeaway

37803 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 37803, TN

How much do homes in 37803, TN cost?

Median Sold Price

$392,441

$210/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$40,243(+11.4%)

Key Takeaway

Homes in 37803 have sold for 11.4% more than they did a year ago.

Summary: The median home sold price in 37803 was $392,441 in February 2024, up 11.4% from last year, and the median price per square foot was $210.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 -$315K
N/A
2 $255K$288.7K
+13.2%
3 $335K$375K
+11.9%
4 $492.5K$539.9K
+9.6%
5+ $652.5K$655K
0.4%

Summary: 37803 housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 13.2%, 3 bedroom homes increased by 11.9%, 4 bedroom homes increased by 9.6%, and 5+ bedroom homes increased by 0.4%.

Median Sold Price Compared To Nearby Zip Codes

37886
+14.5%
37803
+11.4%
37801
+7.2%
37804
+6.7%

Housing Supply in 37803, TN

How many homes are available in 37803, TN?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
119129+8.4%

Summary: The 37803 real estate market had 129 homes for sale in February 2024, a 8.4% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 58
+60.0%
3 7981
+2.5%
4 2731
+14.8%
5+ 89
+12.5%

Summary: The 37803 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 increased by 60%, 3 bedroom homes increased by 2.5%, 4 bedroom homes increased by 14.8%, and 5+ bedroom homes increased by 12.5%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
2130+42.9%

Asking Price vs. Sold Price

19 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 37803, you may be able to get a good deal. 63.3% of homes here sold below asking price last month.

Summary: A total of 30 homes were sold or pending in 37803 in February 2024, up by 42.9% month-over-month. Of the 30 sold homes, 63% were sold under asking, 27% were sold at asking, and 10% were sold over asking.

Days on Market for 37803, TN

We’re sorry, we don't have information for this market at the moment

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

Report Updated 28 Days Ago

Newest Listings in 37803, TN

Nearby Markets to 37803, TN