$249,000
31.69 Acres
Land
Listing Office: The Source Real Estate Group
Is 37840, 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, 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
$261,000
$173/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$26,000(+11.1%)
Key Takeaway
Homes in 37840 have sold for 11.1% more than they did a year ago.
Summary: The median home sold price in 37840 was $261,000 in November 2024, up 11.1% from last year, and the median price per square foot was $173.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $178.9K | $40K | -77.6% |
| 2 Bedrooms | $182K | $228.7K | +25.7% |
| 3 Bedrooms | $235K | $309K | +31.5% |
| 4 Bedrooms | $300K | $319.5K | +6.5% |
| 5+ Bedrooms | $305K | - | N/A |
Summary: 37840 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 77.6%, 2 bedroom homes increased by 25.7%, 3 bedroom homes increased by 31.5%, 4 bedroom homes increased by 6.5%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Zip Codes
| 37840 | $235K | $261K | +11.1% |
| 37830 | $320K | $347.2K | +8.5% |
Housing Supply in 37840, TN
How many homes are available in 37840, TN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 29 | 32 | +10.3% |
Summary: The 37840 real estate market had 32 homes for sale in November 2024, a 10.3% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 3 | 2 | -33.3% |
| 3 Bedrooms | 18 | 19 | +5.6% |
| 4 Bedrooms | 4 | 6 | +50.0% |
| 5+ Bedrooms | 3 | 4 | +33.3% |
Summary: The 37840 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 33.3%, 3 bedroom homes increased by 5.6%, 4 bedroom homes increased by 50%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 4 | 3 | -25.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 37840, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in 37840 in November 2024, down by 25.0% month-over-month. Of the 3 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 52 Days | 19 Days | -63.9% |
Summary: Homes in 37840 had an average of 19 days on market in Nov 2024, down by 63.9% compared to last year.
Breakdown of Home Sale Times
2 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 November 2024, 3 homes were sold in 37840; 67% of homes were sold within 30 days, 33% 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.
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