Is 38117, 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, 38117 was a Buyer's Market.
Key Takeaway
38117 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 38117, TN
How much do homes in 38117, TN cost?
Median Sold Price
$282,500
$135/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 38117 have sold for 6.6% more than they did a year ago.
Summary: The median home sold price in 38117 was $282,500 in April 2024, up 6.6% from last year, and the median price per square foot was $135.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $147.5K | N/A |
| 2 Bedrooms | $202.5K | $214.9K | +6.1% |
| 3 Bedrooms | $258.5K | $264.9K | +2.5% |
| 4 Bedrooms | $480K | $412.1K | -14.1% |
| 5+ Bedrooms | $1.8M | $749.9K | -58.3% |
Summary: 38117 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 6.1%, 3 bedroom homes increased by 2.5%, 4 bedroom homes decreased by 14.1%, and 5+ bedroom homes decreased by 58.3%.
Housing Supply in 38117, TN
How many homes are available in 38117, TN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 225 | 261 | +16.0% |
Summary: The 38117 real estate market had 261 homes for sale in April 2024, a 16.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 4 | +100.0% |
| 2 Bedrooms | 16 | 18 | +12.5% |
| 3 Bedrooms | 143 | 159 | +11.2% |
| 4 Bedrooms | 50 | 59 | +18.0% |
| 5+ Bedrooms | 14 | 21 | +50.0% |
Summary: The 38117 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 12.5%, 3 bedroom homes increased by 11.2%, 4 bedroom homes increased by 18%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 52 | 44 | -15.4% |
Asking Price vs. Sold Price
24 Homes Were Sold
Under Asking
13 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 38117, you may be able to get a good deal. 55.8% of homes here sold below asking price last month.
Summary: A total of 44 homes were sold or pending in 38117 in April 2024, down by 15.4% month-over-month. Of the 43 sold homes, 56% were sold under asking, 30% were sold at asking, and 14% were sold over asking.
Days on Market for 38117, TN
We’re sorry, we don't have information for this market at the moment
