Is 37656, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 37656 is a neutral's market

Buyer's
Market

Difference Since November 2023

At the same time last year, 37656 was a Seller's Market.

Key Takeaway

37656 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 37656, TN

How much do homes in 37656, TN cost?

Median Sold Price

$281,500

$175/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$1,500(+0.5%)

Key Takeaway

Homes in 37656 have sold for 0.5% more than they did a year ago.

Summary: The median home sold price in 37656 was $281,500 in November 2024, up 0.5% from last year, and the median price per square foot was $175.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 --
N/A
2 $152K$210K
+38.2%
3 $294.9K$269.9K
-8.5%
4 $489.4K$363.5K
-25.7%
5+ -$310K
N/A

Summary: 37656 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 38.2%, 3 bedroom homes decreased by 8.5%, 4 bedroom homes decreased by 25.7%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Zip Codes

37681
+11.8%
37660
+9.2%
37663
+9.0%
37656
0.5%
37664
-3.3%

Housing Supply in 37656, TN

How many homes are available in 37656, TN?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
1514-6.7%

Summary: The 37656 real estate market had 14 homes for sale in November 2024, a 6.7% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 22
0.0%
3 88
0.0%
4 21
-50.0%
5+ 33
0.0%

Summary: The 37656 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 remained the same, 4 bedroom homes decreased by 50%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
12+100.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

1 Home Was Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 37656, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 2 homes were sold or pending in 37656 in November 2024, up by 100.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.

Days on Market for 37656, TN

How long does it take to sell a home in 37656, TN?

Average Sale Time

Nov 2023Nov 2024CHANGE
54 Days61 Days+12.3%

Summary: Homes in 37656 had an average of 61 days on market in Nov 2024, up by 12.3% compared to last year.

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in 37656 has remained consistent over time.

Summary: During November 2024, 2 homes were sold in 37656; 0% of homes were sold within 30 days, 100% of homes were sold within 30 to 90 days, and 0% 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 37656, TN

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