$59,900
5.50 Acres
Land
Listing Office: Wallace
Is 37748, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, 37748 was a Neutral Market.
Key Takeaway
37748 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 37748, TN
How much do homes in 37748, TN cost?
Median Sold Price
$245,000
$161/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$35,000(+16.7%)
Key Takeaway
Homes in 37748 have sold for 16.7% more than they did a year ago.
Summary: The median home sold price in 37748 was $245,000 in November 2024, up 16.7% from last year, and the median price per square foot was $161.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $47.5K | $58K | +22.1% |
| 2 Bedrooms | $159.7K | $172K | +7.7% |
| 3 Bedrooms | $229.9K | $259.9K | +13.0% |
| 4 Bedrooms | $315K | $289.9K | -8.0% |
| 5+ Bedrooms | $525K | $340K | -35.2% |
Summary: 37748 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 22.1%, 2 bedroom homes increased by 7.7%, 3 bedroom homes increased by 13%, 4 bedroom homes decreased by 8%, and 5+ bedroom homes decreased by 35.2%.
Housing Supply in 37748, TN
How many homes are available in 37748, TN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 87 | 82 | -5.7% |
Summary: The 37748 real estate market had 82 homes for sale in November 2024, a 5.7% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 4 | 0.0% |
| 2 Bedrooms | 21 | 18 | -14.3% |
| 3 Bedrooms | 47 | 43 | -8.5% |
| 4 Bedrooms | 12 | 15 | +25.0% |
| 5+ Bedrooms | 3 | 2 | -33.3% |
Summary: The 37748 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 14.3%, 3 bedroom homes decreased by 8.5%, 4 bedroom homes increased by 25%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 17 | 19 | +11.8% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 37748, you may be able to get a good deal. 57.9% of homes here sold below asking price last month.
Summary: A total of 19 homes were sold or pending in 37748 in November 2024, up by 11.8% month-over-month. Of the 19 sold homes, 58% were sold under asking, 16% were sold at asking, and 26% were sold over asking.
Days on Market for 37748, TN
How long does it take to sell a home in 37748, TN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 19 Days | 58 Days | +198.5% |
Summary: Homes in 37748 had an average of 58 days on market in Nov 2024, up by 198.5% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 37748 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 19 homes were sold in 37748; 53% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 26% of homes were sold over 90 days.
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Knoxville Area Association of REALTORS® Multiple Listing Service. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some or all of the listings may not belong to the firm whose website is being visited. Real estate listings held by brokerage firms other than this broker are indicated by detailed information about them such as the name of the listing firms. 
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Greater Chattanooga Association of Realtors®. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Copyright© 2024 Greater Chattanooga Association of REALTORS®.