Is 37880, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 37880 is a buyer's market

Buyer's
Market

Difference Since Last Month

Since last month, 37880 has remained a Buyer's Market.

Key Takeaway

37880 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 37880, TN

How much do homes in 37880, TN cost?

Median Sold Price

$434,450

$237/sqft

Based on all homes sold in October 2024.

Difference Since Last Month

-$128,000(-22.8%)

Key Takeaway

Homes in 37880 have sold for 22.8% less than they did a month ago.

Summary: The median home sold price in 37880 was $434,450 in October 2024, down 22.8% from last month, and the median price per square foot was $237.

Median Sold Price By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 --
N/A
2 -$605K
N/A
3 $562.4K$268.9K
-52.2%
4 --
N/A
5+ --
N/A

Summary: 37880 housing prices by bedroom type for October 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 52.2%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Housing Supply in 37880, TN

How many homes are available in 37880, TN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
3233+3.1%

Summary: The 37880 real estate market had 33 homes for sale in October 2024, a 3.1% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 11
0.0%
2 910
+11.1%
3 1919
0.0%
4 33
0.0%
5+ 00
0.0%

Summary: The 37880 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 11.1%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
440.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

1 Home Was Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 37880, you could pay more than the asking price. 50% of homes here sold above asking price last month.

Summary: A total of 4 homes were sold or pending in 37880 in October 2024, the same as the previous month. Of the 4 sold homes, 25% were sold under asking, 25% were sold at asking, and 50% were sold over asking.

Days on Market for 37880, TN

How long does it take to sell a home in 37880, TN?

Average Sale Time

Sep 2024Oct 2024CHANGE
70 Days56 Days-20.8%

Summary: Homes in 37880 had an average of 56 days on market in Oct 2024, down by 20.8% compared to last month.

Breakdown of Home Sale Times

2 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 37880 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 4 homes were sold in 37880; 50% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 25% 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 14 Days Ago

Newest Listings in 37880, TN

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