Is 37862, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, 37862 was a Seller's Market.
Housing Prices in 37862, TN
How much do homes in 37862, TN cost?
Median Sold Price
$575,000
$333/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 37862 was $575,000 in March 2024, down 1.6% from last year, and the median price per square foot was $333.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $465K | $430K | -7.5% |
2 Bedrooms | $580K | $485K | -16.4% |
3 Bedrooms | $550K | $557.5K | +1.4% |
4 Bedrooms | $1.1M | $1.0M | -15.1% |
5+ Bedrooms | $1.3M | $1.1M | -11.2% |
Summary: 37862 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 7.5%, 2 bedroom homes decreased by 16.4%, 3 bedroom homes increased by 1.4%, 4 bedroom homes decreased by 15.1%, and 5+ bedroom homes decreased by 11.2%.
Housing Supply in 37862, TN
How many homes are available in 37862, TN?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
215 | 272 | +26.5% |
Summary: The 37862 real estate market had 272 homes for sale in March 2024, a 26.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 18 | 21 | +16.7% |
2 Bedrooms | 55 | 69 | +25.5% |
3 Bedrooms | 88 | 103 | +17.0% |
4 Bedrooms | 33 | 47 | +42.4% |
5+ Bedrooms | 21 | 32 | +52.4% |
Summary: The 37862 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 16.7%, 2 bedroom homes increased by 25.5%, 3 bedroom homes increased by 17%, 4 bedroom homes increased by 42.4%, and 5+ bedroom homes increased by 52.4%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
12 | 26 | +116.7% |
Asking Price vs. Sold Price
21 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 26 homes were sold or pending in 37862 in March 2024, up by 116.7% month-over-month. Of the 26 sold homes, 81% were sold under asking, 8% were sold at asking, and 12% were sold over asking.
Days on Market for 37862, TN
How long does it take to sell a home in 37862, TN?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
42 Days | 63 Days | +50.1% |
Summary: Homes in 37862 had an average of 63 days on market in Mar 2024, up by 50.1% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Summary: During March 2024, 26 homes were sold in 37862; 58% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 27% of homes were sold over 90 days.