Is 37321, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 37321 is a neutral's market

Buyer's
Market

Difference Since October 2023

At the same time last year, 37321 was a Seller's Market.

Key Takeaway

37321 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 37321, TN

How much do homes in 37321, TN cost?

Median Sold Price

$285,000

$174/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

-$4,450(-1.5%)

Key Takeaway

Homes in 37321 have sold for 1.5% less than they did a year ago.

Summary: The median home sold price in 37321 was $285,000 in October 2024, down 1.5% from last year, and the median price per square foot was $174.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 -$134.9K
N/A
2 $169.9K$187.5K
+10.4%
3 $299K$274K
-8.4%
4 $312.5K$349K
+11.7%
5+ $399.9K$379.3K
-5.1%

Summary: 37321 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 10.4%, 3 bedroom homes decreased by 8.4%, 4 bedroom homes increased by 11.7%, and 5+ bedroom homes decreased by 5.1%.

Median Sold Price Compared To Nearby Zip Codes

37373
+11.9%
37308
+9.0%
37321
-1.5%

Housing Supply in 37321, TN

How many homes are available in 37321, TN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
140114-18.6%

Summary: The 37321 real estate market had 114 homes for sale in October 2024, a 18.6% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 86
-25.0%
3 8268
-17.1%
4 3227
-15.6%
5+ 1813
-27.8%

Summary: The 37321 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 decreased by 17.1%, 4 bedroom homes decreased by 15.6%, and 5+ bedroom homes decreased by 27.8%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
3118-41.9%

Asking Price vs. Sold Price

13 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 37321, you may be able to get a good deal. 72.2% of homes here sold below asking price last month.

Summary: A total of 18 homes were sold or pending in 37321 in October 2024, down by 41.9% month-over-month. Of the 18 sold homes, 72% were sold under asking, 17% were sold at asking, and 11% were sold over asking.

Days on Market for 37321, TN

How long does it take to sell a home in 37321, TN?

Average Sale Time

Oct 2023Oct 2024CHANGE
25 Days48 Days+92.7%

Summary: Homes in 37321 had an average of 48 days on market in Oct 2024, up by 92.7% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 37321 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 18 homes were sold in 37321; 28% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 17% 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 13 Days Ago

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