Is 38120, 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, 38120 was a Buyer's Market.
Key Takeaway
38120 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 38120, TN
How much do homes in 38120, TN cost?
Median Sold Price
$397,000
$165/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 38120 have sold for 4.3% less than they did a year ago.
Summary: The median home sold price in 38120 was $397,000 in April 2024, down 4.3% from last year, and the median price per square foot was $165.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $104.2K | N/A |
| 2 Bedrooms | $135K | $172.5K | +27.8% |
| 3 Bedrooms | $330.5K | $317K | -4.1% |
| 4 Bedrooms | $457K | $499K | +9.2% |
| 5+ Bedrooms | $520K | $633.9K | +21.9% |
Summary: 38120 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 27.8%, 3 bedroom homes decreased by 4.1%, 4 bedroom homes increased by 9.2%, and 5+ bedroom homes increased by 21.9%.
Median Sold Price Compared To Nearby Zip Codes
| 38117 | $264.9K | $282.5K | +6.6% |
| 38120 | $415K | $397K | -4.3% |
Housing Supply in 38120, TN
How many homes are available in 38120, TN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 106 | 143 | +34.9% |
Summary: The 38120 real estate market had 143 homes for sale in April 2024, a 34.9% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 6 | +100.0% |
| 2 Bedrooms | 3 | 6 | +100.0% |
| 3 Bedrooms | 31 | 47 | +51.6% |
| 4 Bedrooms | 43 | 52 | +20.9% |
| 5+ Bedrooms | 26 | 32 | +23.1% |
Summary: The 38120 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 100%, 3 bedroom homes increased by 51.6%, 4 bedroom homes increased by 20.9%, and 5+ bedroom homes increased by 23.1%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 11 | 34 | +209.1% |
Asking Price vs. Sold Price
18 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 38120, you may be able to get a good deal. 52.9% of homes here sold below asking price last month.
Summary: A total of 34 homes were sold or pending in 38120 in April 2024, up by 209.1% month-over-month. Of the 34 sold homes, 53% were sold under asking, 26% were sold at asking, and 21% were sold over asking.
Days on Market for 38120, TN
We’re sorry, we don't have information for this market at the moment
