Is 37885, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 37885 is a neutral's market

Buyer's
Market

Difference Since February 2023

At the same time last year, 37885 was a Buyer's Market.

Key Takeaway

37885 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in 37885, TN

How much do homes in 37885, TN cost?

Median Sold Price

$600,000

$244/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$127,500(+27.0%)

Key Takeaway

Homes in 37885 have sold for 27% more than they did a year ago.

Summary: The median home sold price in 37885 was $600,000 in February 2024, up 27% from last year, and the median price per square foot was $244.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $225.5K$40K
-82.3%
2 $275K$289K
+5.1%
3 $430K$582.5K
+35.5%
4 $944.7K$890K
-5.8%
5+ $1.7M$1.6M
-6.5%

Summary: 37885 housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 82.3%, 2 bedroom homes increased by 5.1%, 3 bedroom homes increased by 35.5%, 4 bedroom homes decreased by 5.8%, and 5+ bedroom homes decreased by 6.5%.

Median Sold Price Compared To Nearby Zip Codes

37885
+27.0%
37354
+24.5%
37385
+13.7%
37801
+7.2%

Housing Supply in 37885, TN

How many homes are available in 37885, TN?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
4150+22.0%

Summary: The 37885 real estate market had 50 homes for sale in February 2024, a 22.0% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 35
+66.7%
3 2632
+23.1%
4 78
+14.3%
5+ 55
0.0%

Summary: The 37885 housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 66.7%, 3 bedroom homes increased by 23.1%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
58+60.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 37885, expect to pay close to the asking price. 62.5% of homes here sold near the asking price last month.

Summary: A total of 8 homes were sold or pending in 37885 in February 2024, up by 60.0% month-over-month. Of the 8 sold homes, 38% were sold under asking, 63% were sold at asking, and 0% were sold over asking.

Days on Market for 37885, TN

We’re sorry, we don't have information for this market at the moment

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 27 Days Ago

Newest Listings in 37885, TN

Nearby Markets to 37885, TN