Is 37840, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 37840 is a seller's market

Buyer's
Market

Difference Since April 2023

Since last year, 37840 has remained a Seller's Market.

Key Takeaway

37840 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 37840, TN

How much do homes in 37840, TN cost?

Median Sold Price

$230,000

$155/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

-$2,800(-1.2%)

Key Takeaway

Homes in 37840 have sold for 1.2% less than they did a year ago.

Summary: The median home sold price in 37840 was $230,000 in April 2024, down 1.2% from last year, and the median price per square foot was $155.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 -$158K
N/A
2 $170K$192K
+12.9%
3 $216.1K$235K
+8.7%
4 $280K$300K
+7.1%
5+ $850K$305K
-64.1%

Summary: 37840 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 12.9%, 3 bedroom homes increased by 8.7%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes decreased by 64.1%.

Median Sold Price Compared To Nearby Zip Codes

37830
+14.9%
37840
-1.2%

Housing Supply in 37840, TN

How many homes are available in 37840, TN?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
1519+26.7%

Summary: The 37840 real estate market had 19 homes for sale in April 2024, a 26.7% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 00
0.0%
2 24
+100.0%
3 1112
+9.1%
4 12
+100.0%
5+ 11
0.0%

Summary: The 37840 housing inventory by bedroom type for April 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 9.1%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
26+200.0%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 37840, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.

Summary: A total of 6 homes were sold or pending in 37840 in April 2024, up by 200.0% month-over-month. Of the 6 sold homes, 67% were sold under asking, 17% were sold at asking, and 17% were sold over asking.

Days on Market for 37840, TN

How long does it take to sell a home in 37840, TN?

Average Sale Time

Apr 2023Apr 2024CHANGE
33 Days56 Days+70.4%

Summary: Homes in 37840 had an average of 56 days on market in Apr 2024, up by 70.4% compared to last year.

Breakdown of Home Sale Times

4 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

Many homes in 37840 are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 6 homes were sold in 37840; 67% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 17% 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 6 Days Ago

Newest Listings in 37840, TN

Nearby Markets to 37840, TN