$7,707 Closing Credit*
$649,000
3,743 SqFt
4 Beds
•3 Full Baths, 1 Partial
Meredith Taylor, Listing Office: Compass Tennessee, LLC
Is 37040, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, 37040 was a Seller's Market.
Key Takeaway
37040 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 37040, TN
How much do homes in 37040, TN cost?
Median Sold Price
$300,043
$179/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$5,060(+1.7%)
Key Takeaway
Homes in 37040 have sold for 1.7% more than they did a year ago.
Summary: The median home sold price in 37040 was $300,043 in October 2024, up 1.7% from last year, and the median price per square foot was $179.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $153K | $189.9K | +24.1% |
| 2 Bedrooms | $220K | $210K | -4.5% |
| 3 Bedrooms | $284.9K | $297.8K | +4.5% |
| 4 Bedrooms | $352.6K | $360K | +2.1% |
| 5+ Bedrooms | $402.4K | $399K | -0.9% |
Summary: 37040 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 24.1%, 2 bedroom homes decreased by 4.5%, 3 bedroom homes increased by 4.5%, 4 bedroom homes increased by 2.1%, and 5+ bedroom homes decreased by 0.9%.
Housing Supply in 37040, TN
How many homes are available in 37040, TN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 410 | 433 | +5.6% |
Summary: The 37040 real estate market had 433 homes for sale in October 2024, a 5.6% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 57 | 61 | +7.0% |
| 3 Bedrooms | 208 | 213 | +2.4% |
| 4 Bedrooms | 120 | 129 | +7.5% |
| 5+ Bedrooms | 25 | 30 | +20.0% |
Summary: The 37040 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 7%, 3 bedroom homes increased by 2.4%, 4 bedroom homes increased by 7.5%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 73 | 66 | -9.6% |
Asking Price vs. Sold Price
27 Homes Were Sold
Under Asking
27 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 37040, you may be able to get a good deal. 40.9% of homes here sold below asking price last month.
Summary: A total of 66 homes were sold or pending in 37040 in October 2024, down by 9.6% month-over-month. Of the 66 sold homes, 41% were sold under asking, 41% were sold at asking, and 18% were sold over asking.
Days on Market for 37040, TN
How long does it take to sell a home in 37040, TN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 35 Days | 44 Days | +25.5% |
Summary: Homes in 37040 had an average of 44 days on market in Oct 2024, up by 25.5% compared to last year.
Breakdown of Home Sale Times
34 Homes Were Sold
Under 30 Days
21 Homes Were Sold
In 30 - 90 Days
11 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 37040 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 66 homes were sold in 37040; 52% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
Listings courtesy of RealTracs Middle Tennessee Regional MLS as distributed by MLS GRID.
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