Is 38116, 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, 38116 was a Seller's Market.
Key Takeaway
38116 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 38116, TN
How much do homes in 38116, TN cost?
Median Sold Price
$155,000
-
Based on all homes sold in March 2024.
Difference Since Last Month
Key Takeaway
Homes in 38116 have sold for 25% 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 | $82K | - | N/A |
| 3 Bedrooms | $105K | $155K | +47.6% |
| 4 Bedrooms | $181.2K | $167.2K | -7.7% |
| 5+ Bedrooms | $190K | - | N/A |
Summary: 38116 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 47.6%, 4 bedroom homes decreased by 7.7%, and 5+ bedroom homes did not change.
Housing Supply in 38116, TN
How many homes are available in 38116, TN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 68 | 72 | +5.9% |
Summary: The 38116 real estate market had 72 homes for sale in March 2024, a 5.9% 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 | 1 | 1 | 0.0% |
| 3 Bedrooms | 44 | 46 | +4.5% |
| 4 Bedrooms | 22 | 23 | +4.5% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The 38116 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 4.5%, 4 bedroom homes increased by 4.5%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 14 | 7 | -50.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 38116, expect to pay close to the asking price. 85.7% of homes here sold near the asking price last month.
Summary: A total of 7 homes were sold or pending in 38116 in March 2024, down by 50.0% month-over-month. Of the 7 sold homes, 0% were sold under asking, 86% were sold at asking, and 14% were sold over asking.
Days on Market for 38116, TN
We’re sorry, we don't have information for this market at the moment
