Is 37216, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, 37216 has remained a Seller's Market.
Key Takeaway
37216 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 37216, TN
How much do homes in 37216, TN cost?
Median Sold Price
$539,925
$320/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 37216 have sold for 1.8% less than they did a year ago.
Summary: The median home sold price in 37216 was $539,925 in April 2024, down 1.8% from last year, and the median price per square foot was $320.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $303K | $296K | -2.3% |
| 2 Bedrooms | $410K | $418.7K | +2.1% |
| 3 Bedrooms | $569.9K | $549.9K | -3.5% |
| 4 Bedrooms | $705K | $729.9K | +3.5% |
| 5+ Bedrooms | $510.1K | $732.5K | +43.6% |
Summary: 37216 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2.3%, 2 bedroom homes increased by 2.1%, 3 bedroom homes decreased by 3.5%, 4 bedroom homes increased by 3.5%, and 5+ bedroom homes increased by 43.6%.
Housing Supply in 37216, TN
How many homes are available in 37216, TN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 201 | 225 | +11.9% |
Summary: The 37216 real estate market had 225 homes for sale in April 2024, a 11.9% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 10 | 10 | 0.0% |
| 2 Bedrooms | 28 | 28 | 0.0% |
| 3 Bedrooms | 98 | 117 | +19.4% |
| 4 Bedrooms | 53 | 59 | +11.3% |
| 5+ Bedrooms | 12 | 11 | -8.3% |
Summary: The 37216 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 remained the same, 3 bedroom homes increased by 19.4%, 4 bedroom homes increased by 11.3%, and 5+ bedroom homes decreased by 8.3%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 35 | 48 | +37.1% |
Asking Price vs. Sold Price
20 Homes Were Sold
Under Asking
15 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 37216, you may be able to get a good deal. 41.7% of homes here sold below asking price last month.
Summary: A total of 48 homes were sold or pending in 37216 in April 2024, up by 37.1% month-over-month. Of the 48 sold homes, 42% were sold under asking, 31% were sold at asking, and 27% were sold over asking.
Days on Market for 37216, TN
How long does it take to sell a home in 37216, TN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 25 Days | 48 Days | +87.5% |
Summary: Homes in 37216 had an average of 48 days on market in Apr 2024, up by 87.5% compared to last year.
Breakdown of Home Sale Times
27 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 37216 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 48 homes were sold in 37216; 56% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.
Listings courtesy of RealTracs Middle Tennessee Regional MLS as distributed by MLS GRID.
© 2024 of the REALTRACS MLS. All rights Reserved. 
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.