Is 38109, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, 38109 was a Seller's Market.
Key Takeaway
38109 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 38109, TN
How much do homes in 38109, TN cost?
Median Sold Price
$115,000
-
Based on all homes sold in March 2024.
Difference Since Last Month
Key Takeaway
Homes in 38109 have sold for 30.7% more than they did a month ago.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $19K | $58.6K | +208.6% |
| 3 Bedrooms | $77K | $100K | +29.9% |
| 4 Bedrooms | $122K | $190K | +55.7% |
| 5+ Bedrooms | - | $450K | N/A |
Summary: 38109 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 increased by 208.6%, 3 bedroom homes increased by 29.9%, 4 bedroom homes increased by 55.7%, and 5+ bedroom homes did not change.
Housing Supply in 38109, TN
How many homes are available in 38109, TN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 182 | 186 | +2.2% |
Summary: The 38109 real estate market had 186 homes for sale in March 2024, a 2.2% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 21 | 21 | 0.0% |
| 3 Bedrooms | 121 | 121 | 0.0% |
| 4 Bedrooms | 36 | 38 | +5.6% |
| 5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The 38109 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes increased by 5.6%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 31 | 24 | -22.6% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 38109, you may be able to get a good deal. 47.8% of homes here sold below asking price last month.
Summary: A total of 24 homes were sold or pending in 38109 in March 2024, down by 22.6% month-over-month. Of the 23 sold homes, 48% were sold under asking, 35% were sold at asking, and 17% were sold over asking.
Days on Market for 38109, TN
We’re sorry, we don't have information for this market at the moment
