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 November 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

$238,500

$150/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$23,500(+10.9%)

Key Takeaway

Homes in 37620 have sold for 10.9% more than they did a year ago.

Summary: The median home sold price in 37620 was $238,500 in November 2024, up 10.9% from last year, and the median price per square foot was $150.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $35K$130K
+271.4%
2 $156.5K$174.9K
+11.8%
3 $242.5K$240K
-1.0%
4 $297.4K$340K
+14.3%
5+ $427K$617K
+44.5%

Summary: 37620 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 271.4%, 2 bedroom homes increased by 11.8%, 3 bedroom homes decreased by 1%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes increased by 44.5%.

Median Sold Price Compared To Nearby Zip Codes

37618
+11.5%
37620
+10.9%
37643
+10.7%
24201
+1.6%
24202
-0.4%

Housing Supply in 37620, TN

How many homes are available in 37620, TN?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
1531530.0%

Summary: The 37620 real estate market had 153 homes for sale in November 2024, the same as October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 11
0.0%
2 3131
0.0%
3 7376
+4.1%
4 3231
-3.1%
5+ 1614
-12.5%

Summary: The 37620 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 4.1%, 4 bedroom homes decreased by 3.1%, and 5+ bedroom homes decreased by 12.5%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
3929-25.6%

Asking Price vs. Sold Price

17 Homes Were Sold
Under Asking

6 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. 58.6% of homes here sold below asking price last month.

Summary: A total of 29 homes were sold or pending in 37620 in November 2024, down by 25.6% month-over-month. Of the 29 sold homes, 59% were sold under asking, 21% were sold at asking, and 21% 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

Nov 2023Nov 2024CHANGE
51 Days65 Days+27.2%

Summary: Homes in 37620 had an average of 65 days on market in Nov 2024, up by 27.2% compared to last year.

Breakdown of Home Sale Times

7 Homes Were Sold
Under 30 Days

14 Homes Were Sold
In 30 - 90 Days

8 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 November 2024, 29 homes were sold in 37620; 24% of homes were sold within 30 days, 48% of homes were sold within 30 to 90 days, and 28% 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 21 Days Ago

Newest Listings in 37620, TN

Nearby Markets to 37620, TN