Is Cumberland Gap, TN 37724 a buyer’s or seller’s market?
Cumberland Gap is a buyer’s market. With about 6.4 months of supply, buyers usually have more time and more room to negotiate on price and terms.
The Cumberland Gap housing market right now
In the three months ending August 31, 2026, 0% of homes in Cumberland Gap, TN 37724 sold above their list price, the typical home went under contract in 58 days and there were 6.4 months of supply. More than six months of supply favors buyers, who usually have more time and more room to negotiate. With only 4 sales, these figures can swing a lot from month to month.
Compared with the same period a year earlier, the share selling over asking fell from 25%, homes sold faster (93 days then) and the median sale price rose 22% to $420,318. Overall, Cumberland Gap is less competitive than a year ago, which gives buyers more room.
Within Claiborne County, homes here sell faster, and less often over asking, than in any other ZIP code in the county.
Nearby, Clairfield 37715 (100% sold over asking) and Tazewell 37879 (18% sold over asking) are even more competitive.
Run the numbers for 37724
Nearby markets
Clairfield 37715Buyer’s market $120 /sq ftHarrogate 37752Buyer’s market $198 /sq ftNew Tazewell 37825Balanced $148 /sq ftPruden 37851 — /sq ft Browse all markets →Towns like Cumberland Gap nearby
Find towns like Cumberland Gap in other states →Where Cumberland Gap is
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Questions about Cumberland Gap real estate
Is Cumberland Gap a buyer’s or seller’s market?
A buyer’s market: there were 6.4 months of supply in Cumberland Gap, TN 37724 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.
How fast do homes sell in Cumberland Gap?
The typical home went under contract in 58 days in the latest three months.
Do homes in Cumberland Gap sell over asking?
0% of homes sold above their original list price, and the typical sale closed at 96.6% of the list price.
What are property taxes in Cumberland Gap?
About 0.49% of a home’s value a year in Claiborne County, or roughly $1,960 on a $400,000 home.
What is the median home price in Cumberland Gap?
The median sale price was $420,318 in the three months ending August 31, 2026, about $113 per square foot.
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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology