Is 37620, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 37620 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 37620 has remained a Seller's Market.

Key Takeaway

37620 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 37620, TN

How much do homes in 37620, TN cost?

Median Sold Price

$235,570

$150/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$23,570(+11.1%)

Key Takeaway

Homes in 37620 have sold for 11.1% more than they did a year ago.

Summary: The median home sold price in 37620 was $235,570 in October 2024, up 11.1% from last year, and the median price per square foot was $150.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $35K$135.5K
+287.1%
2 $155K$174.9K
+12.8%
3 $237K$240K
+1.3%
4 $293K$340K
+16.0%
5+ $385K$635K
+64.9%

Summary: 37620 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 287.1%, 2 bedroom homes increased by 12.8%, 3 bedroom homes increased by 1.3%, 4 bedroom homes increased by 16%, and 5+ bedroom homes increased by 64.9%.

Median Sold Price Compared To Nearby Zip Codes

37618
+17.9%
37620
+11.1%
37643
+9.1%
24202
0.4%
24201
0.0%

Housing Supply in 37620, TN

How many homes are available in 37620, TN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
153145-5.2%

Summary: The 37620 real estate market had 145 homes for sale in October 2024, a 5.2% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 11
0.0%
2 2726
-3.7%
3 7169
-2.8%
4 3433
-2.9%
5+ 2016
-20.0%

Summary: The 37620 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 3.7%, 3 bedroom homes decreased by 2.8%, 4 bedroom homes decreased by 2.9%, and 5+ bedroom homes decreased by 20%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
3835-7.9%

Asking Price vs. Sold Price

21 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 37620, you may be able to get a good deal. 60% of homes here sold below asking price last month.

Summary: A total of 35 homes were sold or pending in 37620 in October 2024, down by 7.9% month-over-month. Of the 35 sold homes, 60% were sold under asking, 23% were sold at asking, and 17% were sold over asking.

Days on Market for 37620, TN

How long does it take to sell a home in 37620, TN?

Average Sale Time

Oct 2023Oct 2024CHANGE
62 Days60 Days-3.9%

Summary: Homes in 37620 had an average of 60 days on market in Oct 2024, down by 3.9% compared to last year.

Breakdown of Home Sale Times

6 Homes Were Sold
Under 30 Days

23 Homes Were Sold
In 30 - 90 Days

6 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in 37620 has remained consistent over time.

Summary: During October 2024, 35 homes were sold in 37620; 17% of homes were sold within 30 days, 66% 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 20 Days Ago

Newest Listings in 37620, TN

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