Is 38016, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, 38016 was a Buyer's Market.
Key Takeaway
38016 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 38016, TN
How much do homes in 38016, TN cost?
Median Sold Price
$300,000
$133/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 38016 have sold for 4% less than they did a year ago.
Summary: The median home sold price in 38016 was $300,000 in April 2024, down 4% from last year, and the median price per square foot was $133.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $105K | $181K | +72.4% |
| 3 Bedrooms | $260K | $267.2K | +2.8% |
| 4 Bedrooms | $355K | $338.4K | -4.7% |
| 5+ Bedrooms | $362.5K | $385K | +6.2% |
Summary: 38016 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 72.4%, 3 bedroom homes increased by 2.8%, 4 bedroom homes decreased by 4.7%, and 5+ bedroom homes increased by 6.2%.
Housing Supply in 38016, TN
How many homes are available in 38016, TN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 164 | 185 | +12.8% |
Summary: The 38016 real estate market had 185 homes for sale in April 2024, a 12.8% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 16 | 17 | +6.3% |
| 3 Bedrooms | 53 | 68 | +28.3% |
| 4 Bedrooms | 73 | 72 | -1.4% |
| 5+ Bedrooms | 22 | 28 | +27.3% |
Summary: The 38016 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 6.3%, 3 bedroom homes increased by 28.3%, 4 bedroom homes decreased by 1.4%, and 5+ bedroom homes increased by 27.3%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 33 | 49 | +48.5% |
Asking Price vs. Sold Price
23 Homes Were Sold
Under Asking
17 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 38016, you may be able to get a good deal. 46.9% of homes here sold below asking price last month.
Summary: A total of 49 homes were sold or pending in 38016 in April 2024, up by 48.5% month-over-month. Of the 49 sold homes, 47% were sold under asking, 35% were sold at asking, and 18% were sold over asking.
Days on Market for 38016, TN
We’re sorry, we don't have information for this market at the moment
