Is 37421, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 37421 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 37421 has remained a Seller's Market.

Key Takeaway

37421 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 37421, TN

How much do homes in 37421, TN cost?

Median Sold Price

$375,000

$185/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$15,000(+4.2%)

Key Takeaway

Homes in 37421 have sold for 4.2% more than they did a year ago.

Summary: The median home sold price in 37421 was $375,000 in October 2024, up 4.2% from last year, and the median price per square foot was $185.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $150K$237.5K
+58.3%
2 $275K$280K
+1.8%
3 $335K$339K
+1.2%
4 $420.4K$445K
+5.9%
5+ $539.7K$607K
+12.5%

Summary: 37421 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 58.3%, 2 bedroom homes increased by 1.8%, 3 bedroom homes increased by 1.2%, 4 bedroom homes increased by 5.9%, and 5+ bedroom homes increased by 12.5%.

Median Sold Price Compared To Nearby Zip Codes

37416
+12.5%
37411
+6.3%
37421
+4.2%
37412
+1.5%
37406
-1.8%

Housing Supply in 37421, TN

How many homes are available in 37421, TN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
274273-0.4%

Summary: The 37421 real estate market had 273 homes for sale in October 2024, a 0.4% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 32
-33.3%
2 3026
-13.3%
3 120127
+5.8%
4 9392
-1.1%
5+ 2826
-7.1%

Summary: The 37421 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes decreased by 13.3%, 3 bedroom homes increased by 5.8%, 4 bedroom homes decreased by 1.1%, and 5+ bedroom homes decreased by 7.1%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
6260-3.2%

Asking Price vs. Sold Price

29 Homes Were Sold
Under Asking

23 Homes Were Sold
At Asking

8 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 37421, you may be able to get a good deal. 48.3% of homes here sold below asking price last month.

Summary: A total of 60 homes were sold or pending in 37421 in October 2024, down by 3.2% month-over-month. Of the 60 sold homes, 48% were sold under asking, 38% were sold at asking, and 13% were sold over asking.

Days on Market for 37421, TN

How long does it take to sell a home in 37421, TN?

Average Sale Time

Oct 2023Oct 2024CHANGE
31 Days34 Days+11.5%

Summary: Homes in 37421 had an average of 34 days on market in Oct 2024, up by 11.5% compared to last year.

Breakdown of Home Sale Times

13 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 37421 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 60 homes were sold in 37421; 22% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 2% 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

Newest Listings in 37421, TN

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