Is 37863, 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, 37863 was a Seller's Market.
Housing Prices in 37863, TN
How much do homes in 37863, TN cost?
Median Sold Price
$472,500
$360/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 37863 was $472,500 in March 2024, down 10% from last year, and the median price per square foot was $360.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $368K | $295K | -19.8% |
2 Bedrooms | $465K | $420K | -9.7% |
3 Bedrooms | $470K | $420K | -10.6% |
4 Bedrooms | $974.5K | $849.2K | -12.9% |
5+ Bedrooms | $1.4M | $2.2M | +56.7% |
Summary: 37863 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 19.8%, 2 bedroom homes decreased by 9.7%, 3 bedroom homes decreased by 10.6%, 4 bedroom homes decreased by 12.9%, and 5+ bedroom homes increased by 56.7%.
Housing Supply in 37863, TN
How many homes are available in 37863, TN?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
80 | 94 | +17.5% |
Summary: The 37863 real estate market had 94 homes for sale in March 2024, a 17.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 9 | 10 | +11.1% |
2 Bedrooms | 31 | 36 | +16.1% |
3 Bedrooms | 13 | 15 | +15.4% |
4 Bedrooms | 15 | 16 | +6.7% |
5+ Bedrooms | 12 | 17 | +41.7% |
Summary: The 37863 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 11.1%, 2 bedroom homes increased by 16.1%, 3 bedroom homes increased by 15.4%, 4 bedroom homes increased by 6.7%, and 5+ bedroom homes increased by 41.7%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
9 | 4 | -55.6% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 4 homes were sold or pending in 37863 in March 2024, down by 55.6% month-over-month. Of the 4 sold homes, 75% were sold under asking, 25% were sold at asking, and 0% were sold over asking.
Days on Market for 37863, TN
How long does it take to sell a home in 37863, TN?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
111 Days | 260 Days | +133.3% |
Summary: Homes in 37863 had an average of 260 days on market in Mar 2024, up by 133.3% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During March 2024, 4 homes were sold in 37863; 50% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.