$4,749 Closing Credit*
$399,900
2,659 SqFt
4 Beds
•2 Full Baths, 1 Partial
#9974112, Allysa Culler, Lucia Fillers, Listing Office: Preferred Properties of East Tennessee
Is 37616, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, 37616 was a Seller's Market.
Key Takeaway
37616 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 37616, TN
How much do homes in 37616, TN cost?
Median Sold Price
$277,450
$190/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$17,450(+6.7%)
Key Takeaway
Homes in 37616 have sold for 6.7% more than they did a year ago.
Summary: The median home sold price in 37616 was $277,450 in November 2024, up 6.7% from last year, and the median price per square foot was $190.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $235K | $650K | +176.6% |
| 2 Bedrooms | $368K | $216K | -41.3% |
| 3 Bedrooms | $235K | $300K | +27.7% |
| 4 Bedrooms | $575K | $405K | -29.6% |
| 5+ Bedrooms | - | $345K | N/A |
Summary: 37616 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 176.6%, 2 bedroom homes decreased by 41.3%, 3 bedroom homes increased by 27.7%, 4 bedroom homes decreased by 29.6%, and 5+ bedroom homes did not change.
Housing Supply in 37616, TN
How many homes are available in 37616, TN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 27 | 21 | -22.2% |
Summary: The 37616 real estate market had 21 homes for sale in November 2024, a 22.2% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 4 | 1 | -75.0% |
| 3 Bedrooms | 19 | 18 | -5.3% |
| 4 Bedrooms | 2 | 1 | -50.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 37616 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 75%, 3 bedroom homes decreased by 5.3%, 4 bedroom homes decreased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 8 | 3 | -62.5% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 37616, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in 37616 in November 2024, down by 62.5% month-over-month. Of the 3 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for 37616, TN
How long does it take to sell a home in 37616, TN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 81 Days | 145 Days | +78.6% |
Summary: Homes in 37616 had an average of 145 days on market in Nov 2024, up by 78.6% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in 37616 are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During November 2024, 3 homes were sold in 37616; 0% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 67% of homes were sold over 90 days.
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Knoxville Area Association of REALTORS® Multiple Listing Service. 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. Some or all of the listings may not belong to the firm whose website is being visited. Real estate listings held by brokerage firms other than this broker are indicated by detailed information about them such as the name of the listing firms.