Is 37803, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 37803 is a neutral's market

Buyer's
Market

Difference Since September 2023

At the same time last year, 37803 was a Seller's Market.

Key Takeaway

37803 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 37803, TN

How much do homes in 37803, TN cost?

Median Sold Price

$411,616

$214/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$32,986(+8.7%)

Key Takeaway

Homes in 37803 have sold for 8.7% more than they did a year ago.

Summary: The median home sold price in 37803 was $411,616 in September 2024, up 8.7% from last year, and the median price per square foot was $214.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $300K$777.5K
+159.2%
2 $282.5K$259.9K
-8.0%
3 $359K$399K
+11.1%
4 $499.9K$575K
+15.0%
5+ $645K$747.3K
+15.9%

Summary: 37803 housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes increased by 159.2%, 2 bedroom homes decreased by 8%, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 15%, and 5+ bedroom homes increased by 15.9%.

Median Sold Price Compared To Nearby Zip Codes

37886
+11.0%
37804
+9.4%
37803
+8.7%
37801
-0.9%

Housing Supply in 37803, TN

How many homes are available in 37803, TN?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
176177+0.6%

Summary: The 37803 real estate market had 177 homes for sale in September 2024, a 0.6% increase compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 12
+100.0%
2 1513
-13.3%
3 110108
-1.8%
4 3640
+11.1%
5+ 1414
0.0%

Summary: The 37803 housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 13.3%, 3 bedroom homes decreased by 1.8%, 4 bedroom homes increased by 11.1%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
4928-42.9%

Asking Price vs. Sold Price

17 Homes Were Sold
Under Asking

9 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 37803, you may be able to get a good deal. 60.7% of homes here sold below asking price last month.

Summary: A total of 28 homes were sold or pending in 37803 in September 2024, down by 42.9% month-over-month. Of the 28 sold homes, 61% were sold under asking, 32% were sold at asking, and 7% were sold over asking.

Days on Market for 37803, TN

How long does it take to sell a home in 37803, TN?

Average Sale Time

Sep 2023Sep 2024CHANGE
25 Days27 Days+7.2%

Summary: Homes in 37803 had an average of 27 days on market in Sep 2024, up by 7.2% compared to last year.

Breakdown of Home Sale Times

16 Homes Were Sold
Under 30 Days

11 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 37803 are selling fast, if you're buying plan to act quickly.

Summary: During September 2024, 28 homes were sold in 37803; 57% of homes were sold within 30 days, 39% of homes were sold within 30 to 90 days, and 4% 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 Sep 1, 2024

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