Is 37861, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 37861 is a buyer's market

Buyer's
Market

Difference Since November 2023

At the same time last year, 37861 was a Seller's Market.

Key Takeaway

37861 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 37861, TN

How much do homes in 37861, TN cost?

Median Sold Price

$239,000

$155/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

-$33,125(-12.2%)

Key Takeaway

Homes in 37861 have sold for 12.2% less than they did a year ago.

Summary: The median home sold price in 37861 was $239,000 in November 2024, down 12.2% from last year, and the median price per square foot was $155.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $199K$150K
-24.6%
2 $170K$211.9K
+24.7%
3 $267.5K$237.9K
-11.1%
4 $812.4K$245K
-69.8%
5+ -$236.5K
N/A

Summary: 37861 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 24.6%, 2 bedroom homes increased by 24.7%, 3 bedroom homes decreased by 11.1%, 4 bedroom homes decreased by 69.8%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Zip Codes

37760
+8.6%
37877
+6.7%
37861
-12.2%

Housing Supply in 37861, TN

How many homes are available in 37861, TN?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
4143+4.9%

Summary: The 37861 real estate market had 43 homes for sale in November 2024, a 4.9% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 01
+100.0%
2 77
0.0%
3 2625
-3.8%
4 79
+28.6%
5+ 11
0.0%

Summary: The 37861 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 3.8%, 4 bedroom homes increased by 28.6%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
45+25.0%

Asking Price vs. Sold Price

4 Homes Were 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 37861, you may be able to get a good deal. 80% of homes here sold below asking price last month.

Summary: A total of 5 homes were sold or pending in 37861 in November 2024, up by 25.0% month-over-month. Of the 5 sold homes, 80% were sold under asking, 20% were sold at asking, and 0% were sold over asking.

Days on Market for 37861, TN

How long does it take to sell a home in 37861, TN?

Average Sale Time

Nov 2023Nov 2024CHANGE
26 Days46 Days+72.8%

Summary: Homes in 37861 had an average of 46 days on market in Nov 2024, up by 72.8% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 37861 are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 5 homes were sold in 37861; 60% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 20% 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 37861, TN

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