$3,741 Closing Credit*
$315,000
1,288 SqFt
2 Beds
•2 Full Baths
Listing Office: Lake Homes Realty of East Tennessee
Is 37885, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, 37885 has remained a Seller's Market.
Key Takeaway
37885 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 37885, TN
How much do homes in 37885, TN cost?
Median Sold Price
$495,000
$246/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$130,000(-20.8%)
Key Takeaway
Homes in 37885 have sold for 20.8% less than they did a year ago.
Summary: The median home sold price in 37885 was $495,000 in November 2024, down 20.8% from last year, and the median price per square foot was $246.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $40K | - | N/A |
| 2 Bedrooms | $294.5K | $220K | -25.3% |
| 3 Bedrooms | $600K | $404.5K | -32.6% |
| 4 Bedrooms | $940K | $1.2M | +37.6% |
| 5+ Bedrooms | $1.8M | $1.5M | -18.8% |
Summary: 37885 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 25.3%, 3 bedroom homes decreased by 32.6%, 4 bedroom homes increased by 37.6%, and 5+ bedroom homes decreased by 18.8%.
Housing Supply in 37885, TN
How many homes are available in 37885, TN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 50 | 43 | -14.0% |
Summary: The 37885 real estate market had 43 homes for sale in November 2024, a 14.0% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 6 | 4 | -33.3% |
| 3 Bedrooms | 27 | 24 | -11.1% |
| 4 Bedrooms | 12 | 9 | -25.0% |
| 5+ Bedrooms | 5 | 6 | +20.0% |
Summary: The 37885 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 decreased by 11.1%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 10 | 8 | -20.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 37885, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in 37885 in November 2024, down by 20.0% month-over-month. Of the 8 sold homes, 75% were sold under asking, 13% were sold at asking, and 13% were sold over asking.
Days on Market for 37885, TN
How long does it take to sell a home in 37885, TN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 19 Days | 38 Days | +95.3% |
Summary: Homes in 37885 had an average of 38 days on market in Nov 2024, up by 95.3% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 37885 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 8 homes were sold in 37885; 63% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 13% 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. 
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®.