37815
Morristown, Tennessee
Morristown 37815 needs watching.
The 37815 ZIP code in Morristown, Tennessee has a median sale price of $225K, down N/A year-over-year. Homes spend an average of 143 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 37815.
The Morristown 37815 market shows stagnation with a median sale price holding at $225,000 and zero year-over-year appreciation. Inventory sits for an extended 143 days on average, more than double the national median, while not a single home sold above asking price in the reporting period. These metrics indicate a market where sellers hold limited pricing power and buyers face minimal competition for available properties.
This environment favors patient buyers with financing in place who can negotiate below-list transactions without urgency. The 143-day listing cycle provides substantial time for inspections, appraisals, and contingency periods that faster markets don't accommodate. Sellers face challenges unless priced aggressively from listing day, while investors seeking appreciation-based returns will find little support in the current data showing flat pricing over twelve months.
The PropIQ score of 27 signals caution, suggesting downward pressure may materialize if inventory absorption doesn't accelerate. With zero homes commanding premiums and extended marketing periods persisting, the next quarter will reveal whether prices must correct to clear stagnant inventory. Buyers should monitor for capitulation pricing while sellers must decide whether to wait for conditions to shift or adjust expectations to current market realities.
What is the median home price in 37815 Morristown?
The median sale price in 37815 is $225K, down N/A year-over-year as of 2025-03-31.
How long do homes stay on the market in Morristown 37815?
Homes in 37815 Morristown spend an average of 143 days on market before going under contract.
Is Morristown 37815 a good place to invest in real estate?
Folio's PropIQ™ score for 37815 is 27/100 — a Caution signal. 0% of homes sold above asking.
What does a PropIQ™ score of 27 mean for 37815?
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 37815 Morristown, Tennessee.