Is 38053, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 38053 is a buyer's market

Buyer's
Market

Difference Since Last Month

Last month, 38053 was a Seller's Market.

Key Takeaway

38053 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 38053, TN

How much do homes in 38053, TN cost?

Median Sold Price

$297,995

-

Based on all homes sold in February 2024.

Difference Since Last Month

+$22,000(+8.0%)

Key Takeaway

Homes in 38053 have sold for 8% more than they did a month ago.

Median Sold Price By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 --
N/A
2 --
N/A
3 $254K$245K
-3.5%
4 $308.9K$310.9K
+0.7%
5+ $445K-
N/A

Summary: 38053 housing prices by bedroom type for February 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 decreased by 3.5%, 4 bedroom homes increased by 0.7%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Zip Codes

38023
+50.7%
38127
+18.4%
38053
+8.0%
38135
-4.5%
38128
-18.1%

Housing Supply in 38053, TN

How many homes are available in 38053, TN?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
103125+21.4%

Summary: The 38053 real estate market had 125 homes for sale in February 2024, a 21.4% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 35
+66.7%
3 5565
+18.2%
4 3343
+30.3%
5+ 1212
0.0%

Summary: The 38053 housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 66.7%, 3 bedroom homes increased by 18.2%, 4 bedroom homes increased by 30.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
1816-11.1%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 38053, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 16 homes were sold or pending in 38053 in February 2024, down by 11.1% month-over-month. Of the 16 sold homes, 50% were sold under asking, 19% were sold at asking, and 31% were sold over asking.

Days on Market for 38053, TN

We’re sorry, we don't have information for this market at the moment

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 27 Days Ago

Newest Listings in 38053, TN

Nearby Markets to 38053, TN