37316
Cleveland, Tennessee
Cleveland 37316 needs watching.
The 37316 ZIP code in Cleveland, Tennessee has a median sale price of $1.70M, down N/A year-over-year. Homes spend an average of 439 days on market, with 0% of homes selling above list price.
Folio's PropIQ™ score of 27 signals Caution conditions. Elevated price drops and longer days on market indicate softening in 37316.
The 37316 ZIP code exhibits pronounced market friction, with a median sale price of $1,700,000 remaining flat year-over-year through September 2023. Properties are averaging 438.5 days on market, approximately 14 months, indicating severe demand constraints at this price point. Zero homes have closed above list price, confirming that sellers hold no pricing power and buyers face no competitive pressure in negotiations.
This environment strongly favors patient buyers with substantial capital who can exploit the extended negotiation window. The 438-day average DOM suggests sellers are increasingly motivated after more than a year of market exposure, creating conditions for 10-15% below-ask offers. Investors seeking cash-flowing assets should proceed cautiously given the 27 PropIQ score, but owner-occupants at this luxury price threshold can dictate terms without fear of competitive bids.
The 27 PropIQ score signals fundamental market weakness that typically precedes either price corrections or prolonged stagnation. With zero above-ask sales and DOM exceeding one year, the flat year-over-year pricing appears unstable rather than stable. Monitor absorption rates and any movement in DOM below 365 days as early indicators of demand recovery, though current data suggests continued buyer advantage through 2024.
What is the median home price in 37316 Cleveland?
The median sale price in 37316 is $1.70M, down N/A year-over-year as of 2023-09-30.
How long do homes stay on the market in Cleveland 37316?
Homes in 37316 Cleveland spend an average of 439 days on market before going under contract.
Is Cleveland 37316 a good place to invest in real estate?
Folio's PropIQ™ score for 37316 is 27/100 — a Caution signal. 0% of homes sold above asking.
What does a PropIQ™ score of 27 mean for 37316?
PropIQ™ is Folio's proprietary market score combining price momentum, days-on-market velocity, inventory absorption, and investment signals into a 0–100 number. Score of 27 = Caution in 37316 Cleveland, Tennessee.