Is 38002, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, 38002 has remained a Neutral Market.
Key Takeaway
38002 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in 38002, TN
How much do homes in 38002, TN cost?
Median Sold Price
$424,625
$124/sqft
Based on all homes sold in March 2024.
Difference Since Last Month
Key Takeaway
Homes in 38002 have sold for 0.7% less than they did a month ago.
Summary: The median home sold price in 38002 was $424,625 in March 2024, down 0.7% from last month, and the median price per square foot was $124.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | $305K | $359.4K | +17.9% |
| 4 Bedrooms | $487.5K | $405K | -16.9% |
| 5+ Bedrooms | $475K | $508.6K | +7.1% |
Summary: 38002 housing prices by bedroom type for March 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 increased by 17.9%, 4 bedroom homes decreased by 16.9%, and 5+ bedroom homes increased by 7.1%.
Housing Supply in 38002, TN
How many homes are available in 38002, TN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 229 | 258 | +12.7% |
Summary: The 38002 real estate market had 258 homes for sale in March 2024, a 12.7% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 51 | 52 | +2.0% |
| 4 Bedrooms | 107 | 128 | +19.6% |
| 5+ Bedrooms | 71 | 78 | +9.9% |
Summary: The 38002 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 2%, 4 bedroom homes increased by 19.6%, and 5+ bedroom homes increased by 9.9%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 38 | 40 | +5.3% |
Asking Price vs. Sold Price
17 Homes Were Sold
Under Asking
16 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 38002, you may be able to get a good deal. 42.5% of homes here sold below asking price last month.
Summary: A total of 40 homes were sold or pending in 38002 in March 2024, up by 5.3% month-over-month. Of the 40 sold homes, 43% were sold under asking, 40% were sold at asking, and 18% were sold over asking.
Days on Market for 38002, TN
How long does it take to sell a home in 38002, TN?
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 38002 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 40 homes were sold in 38002; 3% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
