$10,000 Closing Credit*
$994,900
2,525 SqFt
3 Beds
•2 Full Baths, 1 Partial
Listing Office: Tennessee Elite Realty
Is 37862, 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, 37862 was a Seller's Market.
Key Takeaway
37862 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 37862, TN
How much do homes in 37862, TN cost?
Median Sold Price
$535,000
$325/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$62,362(-10.4%)
Key Takeaway
Homes in 37862 have sold for 10.4% less than they did a year ago.
Summary: The median home sold price in 37862 was $535,000 in November 2024, down 10.4% from last year, and the median price per square foot was $325.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $444K | $450K | +1.4% |
| 2 Bedrooms | $510K | $475K | -6.9% |
| 3 Bedrooms | $545K | $534K | -2.0% |
| 4 Bedrooms | $1.1M | $950K | -13.6% |
| 5+ Bedrooms | $1.3M | $1.0M | -16.3% |
Summary: 37862 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.4%, 2 bedroom homes decreased by 6.9%, 3 bedroom homes decreased by 2%, 4 bedroom homes decreased by 13.6%, and 5+ bedroom homes decreased by 16.3%.
Housing Supply in 37862, TN
How many homes are available in 37862, TN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 282 | 311 | +10.3% |
Summary: The 37862 real estate market had 311 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 | 19 | 21 | +10.5% |
| 2 Bedrooms | 85 | 91 | +7.1% |
| 3 Bedrooms | 94 | 107 | +13.8% |
| 4 Bedrooms | 46 | 51 | +10.9% |
| 5+ Bedrooms | 38 | 41 | +7.9% |
Summary: The 37862 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 10.5%, 2 bedroom homes increased by 7.1%, 3 bedroom homes increased by 13.8%, 4 bedroom homes increased by 10.9%, and 5+ bedroom homes increased by 7.9%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 19 | 14 | -26.3% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 37862, you may be able to get a good deal. 64.3% of homes here sold below asking price last month.
Summary: A total of 14 homes were sold or pending in 37862 in November 2024, down by 26.3% month-over-month. Of the 14 sold homes, 64% were sold under asking, 21% were sold at asking, and 14% were sold over asking.
Days on Market for 37862, TN
How long does it take to sell a home in 37862, TN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 79 Days | 64 Days | -18.9% |
Summary: Homes in 37862 had an average of 64 days on market in Nov 2024, down by 18.9% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 37862 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 14 homes were sold in 37862; 43% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 29% 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. 
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®.