Is 37055, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 37055 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 37055 has remained a Seller's Market.

Key Takeaway

37055 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 37055, TN

How much do homes in 37055, TN cost?

Median Sold Price

$358,250

$224/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$31,375(+9.6%)

Key Takeaway

Homes in 37055 have sold for 9.6% more than they did a year ago.

Summary: The median home sold price in 37055 was $358,250 in October 2024, up 9.6% from last year, and the median price per square foot was $224.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $225.9K$330K
+46.1%
2 $245K$249.9K
+2.0%
3 $329K$354K
+7.6%
4 $408.5K$437.5K
+7.1%
5+ $441.4K$449.9K
+1.9%

Summary: 37055 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 46.1%, 2 bedroom homes increased by 2%, 3 bedroom homes increased by 7.6%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes increased by 1.9%.

Median Sold Price Compared To Nearby Zip Codes

37055
+9.6%
37025
+7.3%
37029
+2.8%
37101
0.5%

Housing Supply in 37055, TN

How many homes are available in 37055, TN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
153171+11.8%

Summary: The 37055 real estate market had 171 homes for sale in October 2024, a 11.8% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 11
0.0%
2 1612
-25.0%
3 100116
+16.0%
4 2934
+17.2%
5+ 78
+14.3%

Summary: The 37055 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 decreased by 25%, 3 bedroom homes increased by 16%, 4 bedroom homes increased by 17.2%, and 5+ bedroom homes increased by 14.3%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
2935+20.7%

Asking Price vs. Sold Price

19 Homes Were Sold
Under Asking

9 Homes Were Sold
At Asking

7 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 37055, you may be able to get a good deal. 54.3% of homes here sold below asking price last month.

Summary: A total of 35 homes were sold or pending in 37055 in October 2024, up by 20.7% month-over-month. Of the 35 sold homes, 54% were sold under asking, 26% were sold at asking, and 20% were sold over asking.

Days on Market for 37055, TN

How long does it take to sell a home in 37055, TN?

Average Sale Time

Oct 2023Oct 2024CHANGE
19 Days38 Days+100.6%

Summary: Homes in 37055 had an average of 38 days on market in Oct 2024, up by 100.6% compared to last year.

Breakdown of Home Sale Times

21 Homes Were Sold
Under 30 Days

9 Homes Were Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 37055 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 35 homes were sold in 37055; 60% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 14% 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 21 Days Ago

Newest Listings in 37055, TN

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