Is 38118, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 38118 is a seller's market

Buyer's
Market

Difference Since Last Month

Since last month, 38118 has remained a Seller's Market.

Key Takeaway

38118 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 38118, TN

How much do homes in 38118, TN cost?

Median Sold Price

$115,950

-

Based on all homes sold in February 2024.

Difference Since Last Month

+$450(+0.4%)

Key Takeaway

The sold price of homes in 38118 has remained the same since last month.

Median Sold Price By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 --
N/A
2 $96.5K-
N/A
3 $111K$110.9K
0%
4 $147.5K$223K
+51.2%
5+ -$189K
N/A

Summary: 38118 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 did not change, 4 bedroom homes increased by 51.2%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Zip Codes

38141
+27.5%
38118
0.4%
38115
-3.6%
38116
-26.9%

Housing Supply in 38118, TN

How many homes are available in 38118, TN?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
7178+9.9%

Summary: The 38118 real estate market had 78 homes for sale in February 2024, a 9.9% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 56
+20.0%
3 5661
+8.9%
4 910
+11.1%
5+ 11
0.0%

Summary: The 38118 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 20%, 3 bedroom homes increased by 8.9%, 4 bedroom homes increased by 11.1%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
2218-18.2%

Asking Price vs. Sold Price

11 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 38118, you may be able to get a good deal. 61.1% of homes here sold below asking price last month.

Summary: A total of 18 homes were sold or pending in 38118 in February 2024, down by 18.2% month-over-month. Of the 18 sold homes, 61% were sold under asking, 22% were sold at asking, and 17% were sold over asking.

Days on Market for 38118, 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 28 Days Ago

Newest Listings in 38118, TN

Nearby Markets to 38118, TN