$5,047 Closing Credit*
$425,000
1,296 SqFt
3 Beds
•2 Full Baths
#9973425, Emily Stephenson, Listing Office: Arbella Properties JC
Is 37616, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, 37616 has remained a Seller's Market.
Key Takeaway
37616 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 37616, TN
How much do homes in 37616, TN cost?
Median Sold Price
$285,000
$186/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$35,050(+14.0%)
Key Takeaway
Homes in 37616 have sold for 14% more than they did a year ago.
Summary: The median home sold price in 37616 was $285,000 in October 2024, up 14% from last year, and the median price per square foot was $186.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $235K | $650K | +176.6% |
| 2 Bedrooms | $155K | $216K | +39.4% |
| 3 Bedrooms | $235K | $305K | +29.8% |
| 4 Bedrooms | $575K | $405K | -29.6% |
| 5+ Bedrooms | - | $345K | N/A |
Summary: 37616 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 176.6%, 2 bedroom homes increased by 39.4%, 3 bedroom homes increased by 29.8%, 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
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 28 | 28 | 0.0% |
Summary: The 37616 real estate market had 28 homes for sale in October 2024, the same as September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 5 | 4 | -20.0% |
| 3 Bedrooms | 19 | 19 | 0.0% |
| 4 Bedrooms | 2 | 3 | +50.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 37616 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 20%, 3 bedroom homes remained the same, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 3 | 7 | +133.3% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 37616, you may be able to get a good deal. 85.7% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in 37616 in October 2024, up by 133.3% month-over-month. Of the 7 sold homes, 86% were sold under asking, 0% were sold at asking, and 14% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 47 Days | 103 Days | +117.9% |
Summary: Homes in 37616 had an average of 103 days on market in Oct 2024, up by 117.9% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
4 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 October 2024, 7 homes were sold in 37616; 0% of homes were sold within 30 days, 43% of homes were sold within 30 to 90 days, and 57% 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.