Is 37640, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 37640 is a buyer's market

Buyer's
Market

Difference Since October 2023

At the same time last year, 37640 was a Seller's Market.

Key Takeaway

37640 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 37640, TN

How much do homes in 37640, TN cost?

Median Sold Price

$385,000

$255/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

-$49,500(-11.4%)

Key Takeaway

Homes in 37640 have sold for 11.4% less than they did a year ago.

Summary: The median home sold price in 37640 was $385,000 in October 2024, down 11.4% from last year, and the median price per square foot was $255.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $184K$212K
+15.2%
2 $434.5K$382.4K
-12.0%
3 $460K$370K
-19.6%
4 $705K$687.5K
-2.5%
5+ $1.0M$2.6M
+148.7%

Summary: 37640 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 15.2%, 2 bedroom homes decreased by 12%, 3 bedroom homes decreased by 19.6%, 4 bedroom homes decreased by 2.5%, and 5+ bedroom homes increased by 148.7%.

Median Sold Price Compared To Nearby Zip Codes

37658
+55.3%
37643
+9.1%
37640
-11.4%

Housing Supply in 37640, TN

How many homes are available in 37640, TN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
2927-6.9%

Summary: The 37640 real estate market had 27 homes for sale in October 2024, a 6.9% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 11
0.0%
2 56
+20.0%
3 1512
-20.0%
4 66
0.0%
5+ 22
0.0%

Summary: The 37640 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 increased by 20%, 3 bedroom homes decreased by 20%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
61-83.3%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 37640, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 1 homes were sold or pending in 37640 in October 2024, down by 83.3% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for 37640, TN

How long does it take to sell a home in 37640, TN?

Average Sale Time

Oct 2023Oct 2024CHANGE
35 Days95 Days+165.7%

Summary: Homes in 37640 had an average of 95 days on market in Oct 2024, up by 165.7% compared to last year.

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in 37640 are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During October 2024, 1 homes were sold in 37640; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 100% 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 37640, TN

Nearby Markets to 37640, TN