Is 37204, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 37204 is a neutral's market

Buyer's
Market

Difference Since November 2023

At the same time last year, 37204 was a Seller's Market.

Key Takeaway

37204 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 37204, TN

How much do homes in 37204, TN cost?

Median Sold Price

$1,182,500

$430/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$57,500(+5.1%)

Key Takeaway

Homes in 37204 have sold for 5.1% more than they did a year ago.

Summary: The median home sold price in 37204 was $1,182,500 in November 2024, up 5.1% from last year, and the median price per square foot was $430.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $335K$338.4K
+1.0%
2 $550K$520K
-5.5%
3 $850K$880K
+3.5%
4 $1.3M$1.3M
+1.8%
5+ $2.2M$2.2M
-2.2%

Summary: 37204 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1%, 2 bedroom homes decreased by 5.5%, 3 bedroom homes increased by 3.5%, 4 bedroom homes increased by 1.8%, and 5+ bedroom homes decreased by 2.2%.

Median Sold Price Compared To Nearby Zip Codes

37203
+8.7%
37204
+5.1%
37220
+2.5%
37212
+1.5%
37210
-5.1%

Housing Supply in 37204, TN

How many homes are available in 37204, TN?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
145148+2.1%

Summary: The 37204 real estate market had 148 homes for sale in November 2024, a 2.1% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 76
-14.3%
2 1211
-8.3%
3 3834
-10.5%
4 3845
+18.4%
5+ 5052
+4.0%

Summary: The 37204 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 14.3%, 2 bedroom homes decreased by 8.3%, 3 bedroom homes decreased by 10.5%, 4 bedroom homes increased by 18.4%, and 5+ bedroom homes increased by 4%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
1924+26.3%

Asking Price vs. Sold Price

17 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 37204, you may be able to get a good deal. 70.8% of homes here sold below asking price last month.

Summary: A total of 24 homes were sold or pending in 37204 in November 2024, up by 26.3% month-over-month. Of the 24 sold homes, 71% were sold under asking, 17% were sold at asking, and 13% were sold over asking.

Days on Market for 37204, TN

How long does it take to sell a home in 37204, TN?

Average Sale Time

Nov 2023Nov 2024CHANGE
37 Days28 Days-24.1%

Summary: Homes in 37204 had an average of 28 days on market in Nov 2024, down by 24.1% compared to last year.

Breakdown of Home Sale Times

15 Homes Were Sold
Under 30 Days

8 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 37204 are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 24 homes were sold in 37204; 63% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 4% 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

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