Is 38112, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 38112 is a buyer's market

Buyer's
Market

Difference Since Last Month

Last month, 38112 was a Seller's Market.

Key Takeaway

38112 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 38112, TN

How much do homes in 38112, TN cost?

Median Sold Price

$197,500

-

Based on all homes sold in February 2024.

Difference Since Last Month

+$50,000(+33.9%)

Key Takeaway

Homes in 38112 have sold for 33.9% more than they did a month ago.

Median Sold Price By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 --
N/A
2 $110K$27.5K
-75.0%
3 $200K$250K
+25.0%
4 $345K$370K
+7.2%
5+ --
N/A

Summary: 38112 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 decreased by 75%, 3 bedroom homes increased by 25%, 4 bedroom homes increased by 7.2%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Zip Codes

38112
+33.9%
38104
+17.9%
38122
+0.7%
38108
-6.4%
38107
-16.2%

Housing Supply in 38112, TN

How many homes are available in 38112, TN?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
7983+5.1%

Summary: The 38112 real estate market had 83 homes for sale in February 2024, a 5.1% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 22
0.0%
2 2222
0.0%
3 3636
0.0%
4 1417
+21.4%
5+ 56
+20.0%

Summary: The 38112 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 remained the same, 3 bedroom homes remained the same, 4 bedroom homes increased by 21.4%, and 5+ bedroom homes increased by 20%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
146-57.1%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 38112, expect to pay close to the asking price. 66.7% of homes here sold near the asking price last month.

Summary: A total of 6 homes were sold or pending in 38112 in February 2024, down by 57.1% month-over-month. Of the 6 sold homes, 33% were sold under asking, 67% were sold at asking, and 0% were sold over asking.

Days on Market for 38112, 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 38112, TN

Nearby Markets to 38112, TN