$3,266 Closing Credit*
$275,000
1,458 SqFt
3 Beds
•2 Full Baths
Listing Office: Realty Executives Associates
Is 37840, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, 37840 was a Seller's Market.
Key Takeaway
37840 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 37840, TN
How much do homes in 37840, TN cost?
Median Sold Price
$270,500
$162/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$40,500(+17.6%)
Key Takeaway
Homes in 37840 have sold for 17.6% more than they did a year ago.
Summary: The median home sold price in 37840 was $270,500 in October 2024, up 17.6% from last year, and the median price per square foot was $162.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $178.9K | $40K | -77.6% |
| 2 Bedrooms | $175K | $228.7K | +30.7% |
| 3 Bedrooms | $235K | $300K | +27.7% |
| 4 Bedrooms | $275K | $325K | +18.2% |
| 5+ Bedrooms | $305K | - | N/A |
Summary: 37840 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 77.6%, 2 bedroom homes increased by 30.7%, 3 bedroom homes increased by 27.7%, 4 bedroom homes increased by 18.2%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Zip Codes
| 37840 | $230K | $270.5K | +17.6% |
| 37830 | $310K | $345.1K | +11.3% |
Housing Supply in 37840, TN
How many homes are available in 37840, TN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 29 | 30 | +3.4% |
Summary: The 37840 real estate market had 30 homes for sale in October 2024, a 3.4% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 6 | 4 | -33.3% |
| 3 Bedrooms | 14 | 17 | +21.4% |
| 4 Bedrooms | 5 | 4 | -20.0% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The 37840 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 33.3%, 3 bedroom homes increased by 21.4%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 9 | 4 | -55.6% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 37840, you could pay more than the asking price. 75% of homes here sold above asking price last month.
Summary: A total of 4 homes were sold or pending in 37840 in October 2024, down by 55.6% month-over-month. Of the 4 sold homes, 25% were sold under asking, 0% were sold at asking, and 75% were sold over asking.
Days on Market for 37840, TN
How long does it take to sell a home in 37840, TN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 59 Days | 11 Days | -80.3% |
Summary: Homes in 37840 had an average of 11 days on market in Oct 2024, down by 80.3% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 37840 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 4 homes were sold in 37840; 75% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% 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. 
Listings courtesy of RealTracs Middle Tennessee Regional MLS as distributed by MLS GRID.
© 2024 of the REALTRACS MLS. All rights Reserved.