Is 37871, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 37871 is a seller's market

Buyer's
Market

Difference Since April 2023

Since last year, 37871 has remained a Seller's Market.

Key Takeaway

37871 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 37871, TN

How much do homes in 37871, TN cost?

Median Sold Price

$348,250

$180/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$35,250(+11.3%)

Key Takeaway

Homes in 37871 have sold for 11.3% more than they did a year ago.

Summary: The median home sold price in 37871 was $348,250 in April 2024, up 11.3% from last year, and the median price per square foot was $180.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 -$101.5K
N/A
2 $157.5K$262.4K
+66.6%
3 $285K$297.9K
+4.5%
4 $434K$435K
0.2%
5+ $447K-
N/A

Summary: 37871 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 66.6%, 3 bedroom homes increased by 4.5%, 4 bedroom homes increased by 0.2%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Zip Codes

37764
+13.6%
37820
+12.9%
37871
+11.3%
37924
+8.9%
37806
-18.7%

Housing Supply in 37871, TN

How many homes are available in 37871, TN?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
4144+7.3%

Summary: The 37871 real estate market had 44 homes for sale in April 2024, a 7.3% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 11
0.0%
2 68
+33.3%
3 2023
+15.0%
4 1311
-15.4%
5+ 11
0.0%

Summary: The 37871 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 33.3%, 3 bedroom homes increased by 15%, 4 bedroom homes decreased by 15.4%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
310+233.3%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 37871, expect to pay close to the asking price. 70% of homes here sold near the asking price last month.

Summary: A total of 10 homes were sold or pending in 37871 in April 2024, up by 233.3% month-over-month. Of the 10 sold homes, 30% were sold under asking, 70% were sold at asking, and 0% were sold over asking.

Days on Market for 37871, TN

How long does it take to sell a home in 37871, TN?

Average Sale Time

Apr 2023Apr 2024CHANGE
70 Days56 Days-19.3%

Summary: Homes in 37871 had an average of 56 days on market in Apr 2024, down by 19.3% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 37871 are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 10 homes were sold in 37871; 40% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 30% 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 9 Days Ago

Newest Listings in 37871, TN

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