Is 37877, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, 37877 has remained a Seller's Market.
Key Takeaway
37877 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 37877, TN
How much do homes in 37877, TN cost?
Median Sold Price
$289,740
$143/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 37877 have sold for 2.4% more than they did a year ago.
Summary: The median home sold price in 37877 was $289,740 in March 2024, up 2.4% from last year, and the median price per square foot was $143.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $256.6K | $132K | -48.6% |
| 3 Bedrooms | $261.2K | $285.7K | +9.4% |
| 4 Bedrooms | $283.7K | $287.6K | +1.4% |
| 5+ Bedrooms | $303.3K | $317.4K | +4.7% |
Summary: 37877 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 48.6%, 3 bedroom homes increased by 9.4%, 4 bedroom homes increased by 1.4%, and 5+ bedroom homes increased by 4.7%.
Housing Supply in 37877, TN
How many homes are available in 37877, TN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 22 | 23 | +4.5% |
Summary: The 37877 real estate market had 23 homes for sale in March 2024, a 4.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 1 | +100.0% |
| 3 Bedrooms | 15 | 16 | +6.7% |
| 4 Bedrooms | 7 | 6 | -14.3% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 37877 housing inventory by bedroom type for March 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 6.7%, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 3 | 9 | +200.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 37877, you could pay more than the asking price. 44.4% of homes here sold above asking price last month.
Summary: A total of 9 homes were sold or pending in 37877 in March 2024, up by 200.0% month-over-month. Of the 9 sold homes, 33% were sold under asking, 22% were sold at asking, and 44% were sold over asking.
Days on Market for 37877, TN
How long does it take to sell a home in 37877, TN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 69 Days | 37 Days | -46.0% |
Summary: Homes in 37877 had an average of 37 days on market in Mar 2024, down by 46% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 37877 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 9 homes were sold in 37877; 56% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Knoxville Area Association of REALTORS® Multiple Listing Service. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some or all of the listings may not belong to the firm whose website is being visited. Real estate listings held by brokerage firms other than this broker are indicated by detailed information about them such as the name of the listing firms.