Is 37406, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 37406 is a seller's market

Buyer's
Market

Difference Since November 2023

Since last year, 37406 has remained a Seller's Market.

Key Takeaway

37406 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 37406, TN

How much do homes in 37406, TN cost?

Median Sold Price

$205,666

$150/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$4,166(+2.1%)

Key Takeaway

Homes in 37406 have sold for 2.1% more than they did a year ago.

Summary: The median home sold price in 37406 was $205,666 in November 2024, up 2.1% from last year, and the median price per square foot was $150.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $80K$165K
+106.3%
2 $95.4K$105K
+10.0%
3 $203.7K$222K
+9.0%
4 $240.2K$247K
+2.8%
5+ $360K$83.7K
-76.7%

Summary: 37406 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 106.3%, 2 bedroom homes increased by 10%, 3 bedroom homes increased by 9%, 4 bedroom homes increased by 2.8%, and 5+ bedroom homes decreased by 76.7%.

Median Sold Price Compared To Nearby Zip Codes

37411
+5.7%
37404
+5.2%
37415
+4.5%
37406
+2.1%
37403
-9.0%

Housing Supply in 37406, TN

How many homes are available in 37406, TN?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
10097-3.0%

Summary: The 37406 real estate market had 97 homes for sale in November 2024, a 3.0% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 33
0.0%
2 2223
+4.5%
3 5554
-1.8%
4 1814
-22.2%
5+ 23
+50.0%

Summary: The 37406 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 4.5%, 3 bedroom homes decreased by 1.8%, 4 bedroom homes decreased by 22.2%, and 5+ bedroom homes increased by 50%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
17170.0%

Asking Price vs. Sold Price

11 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 37406, you may be able to get a good deal. 64.7% of homes here sold below asking price last month.

Summary: A total of 17 homes were sold or pending in 37406 in November 2024, the same as the previous month. Of the 17 sold homes, 65% were sold under asking, 24% were sold at asking, and 12% were sold over asking.

Days on Market for 37406, TN

How long does it take to sell a home in 37406, TN?

Average Sale Time

Nov 2023Nov 2024CHANGE
9 Days58 Days+543.4%

Summary: Homes in 37406 had an average of 58 days on market in Nov 2024, up by 543.4% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

4 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in 37406 are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During November 2024, 17 homes were sold in 37406; 18% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 24% 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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Newest Listings in 37406, TN

Nearby Markets to 37406, TN

MLS Disclaimers and Copyright

Based on information from Chattanooga MLS / Multiple Listing Service of Chattanooga Inc., and RealTracs Middle Tennessee Regional MLS for the period 12/01/2022 - 12/01/2024

IDX The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Greater Chattanooga Association of Realtors®. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Copyright© 2024 Greater Chattanooga Association of REALTORS®.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 12/22/2024, 12:21:09 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

IDX Listings courtesy of RealTracs Middle Tennessee Regional MLS as distributed by MLS GRID.

All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

IDX© 2024 of the REALTRACS MLS. All rights Reserved.

The data relating to this real estate for sale on this websites comes in part courtesy of the IDX program of the REALTRACS MLS. Real estate listings held by brokerage firms other than this broker are marked with the REALTRACS IDX Logo. REALTRACS and this broker deem all information reliable but not guaranteed, and should be independently verified. REALTRACS and this broker assume no responsibility for typographical errors, misprints or misinformation.

REALTRACS, this broker and their affiliates provide the MLS and all content therein “AS IS” and without any warranty, express or implied. The information included in this listing is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 12/22/2024, 12:18:50 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

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