Is 37642, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 37642 is a neutral's market

Buyer's
Market

Difference Since November 2023

At the same time last year, 37642 was a Seller's Market.

Key Takeaway

37642 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in 37642, TN

How much do homes in 37642, TN cost?

Median Sold Price

$251,000

$160/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

-$10,500(-4.0%)

Key Takeaway

Homes in 37642 have sold for 4% less than they did a year ago.

Summary: The median home sold price in 37642 was $251,000 in November 2024, down 4% from last year, and the median price per square foot was $160.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $55K$172.5K
+213.6%
2 $179.2K$188K
+4.9%
3 $254.9K$242.7K
-4.8%
4 $299.6K$306K
+2.1%
5+ $329.8K$340K
+3.1%

Summary: 37642 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 213.6%, 2 bedroom homes increased by 4.9%, 3 bedroom homes decreased by 4.8%, 4 bedroom homes increased by 2.1%, and 5+ bedroom homes increased by 3.1%.

Median Sold Price Compared To Nearby Zip Codes

37645
+13.5%
37660
+9.2%
37873
+8.6%
37857
0.4%
37642
-4.0%

Housing Supply in 37642, TN

How many homes are available in 37642, TN?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
4643-6.5%

Summary: The 37642 real estate market had 43 homes for sale in November 2024, a 6.5% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 54
-20.0%
3 3129
-6.5%
4 99
0.0%
5+ 11
0.0%

Summary: The 37642 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 decreased by 20%, 3 bedroom homes decreased by 6.5%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
137-46.2%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 37642, you may be able to get a good deal. 42.9% of homes here sold below asking price last month.

Summary: A total of 7 homes were sold or pending in 37642 in November 2024, down by 46.2% month-over-month. Of the 7 sold homes, 43% were sold under asking, 29% were sold at asking, and 29% were sold over asking.

Days on Market for 37642, TN

How long does it take to sell a home in 37642, TN?

Average Sale Time

Nov 2023Nov 2024CHANGE
54 Days68 Days+24.5%

Summary: Homes in 37642 had an average of 68 days on market in Nov 2024, up by 24.5% compared to last year.

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in 37642 has remained consistent over time.

Summary: During November 2024, 7 homes were sold in 37642; 0% of homes were sold within 30 days, 86% of homes were sold within 30 to 90 days, and 14% 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 22 Days Ago

Newest Listings in 37642, TN

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