Is 37115, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 37115 is a seller's market

Buyer's
Market

Difference Since December 2023

Since last year, 37115 has remained a Seller's Market.

Key Takeaway

37115 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 37115, TN

How much do homes in 37115, TN cost?

Median Sold Price

$340,000

$231/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2023

+$19,000(+5.9%)

Key Takeaway

Homes in 37115 have sold for 5.9% more than they did a year ago.

Summary: The median home sold price in 37115 was $340,000 in December 2024, up 5.9% from last year, and the median price per square foot was $231.

Median Sold Price By Bedroom Count

# BEDSDec 2023Dec 2024CHANGE
1 $180K$152.5K
-15.3%
2 $245K$245K
0.0%
3 $341.5K$360K
+5.4%
4 $469K$483K
+3.0%
5+ $540K$538.7K
-0.2%

Summary: 37115 housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 15.3%, 2 bedroom homes did not change, 3 bedroom homes increased by 5.4%, 4 bedroom homes increased by 3%, and 5+ bedroom homes decreased by 0.2%.

Median Sold Price Compared To Nearby Zip Codes

37207
+12.9%
37138
+9.4%
37214
+6.7%
37115
+5.9%
37216
+4.7%

Housing Supply in 37115, TN

How many homes are available in 37115, TN?

Number of Homes For Sale

Nov 2024Dec 2024CHANGE
172182+5.8%

Summary: The 37115 real estate market had 182 homes for sale in December 2024, a 5.8% increase compared to November 2024.

Homes For Sale By Bedroom Count

# BEDSNov 2024Dec 2024CHANGE
1 74
-42.9%
2 3535
0.0%
3 95105
+10.5%
4 3235
+9.4%
5+ 33
0.0%

Summary: The 37115 housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 42.9%, 2 bedroom homes remained the same, 3 bedroom homes increased by 10.5%, 4 bedroom homes increased by 9.4%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Nov 2024Dec 2024CHANGE
2935+20.7%

Asking Price vs. Sold Price

25 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 37115, you may be able to get a good deal. 75.8% of homes here sold below asking price last month.

Summary: A total of 35 homes were sold or pending in 37115 in December 2024, up by 20.7% month-over-month. Of the 33 sold homes, 76% were sold under asking, 18% were sold at asking, and 6% were sold over asking.

Days on Market for 37115, TN

How long does it take to sell a home in 37115, TN?

Average Sale Time

Dec 2023Dec 2024CHANGE
31 Days26 Days-17.2%

Summary: Homes in 37115 had an average of 26 days on market in Dec 2024, down by 17.2% compared to last year.

Breakdown of Home Sale Times

19 Homes Were Sold
Under 30 Days

15 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 37115 are selling fast, if you're buying plan to act quickly.

Summary: During December 2024, 35 homes were sold in 37115; 54% of homes were sold within 30 days, 43% of homes were sold within 30 to 90 days, and 0% 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 2 Days Ago

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