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 4 Days Ago

Newest Listings in 37620, TN

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