Is 38122, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, 38122 was a Buyer's Market.
Key Takeaway
38122 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in 38122, TN
How much do homes in 38122, TN cost?
Median Sold Price
$149,900
-
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 38122 have sold for 10.8% less than they did a year ago.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $113.2K | N/A |
| 2 Bedrooms | $143K | $125K | -12.6% |
| 3 Bedrooms | $179.5K | $159.9K | -10.9% |
| 4 Bedrooms | $150K | $189K | +26.0% |
| 5+ Bedrooms | $225K | $162.5K | -27.8% |
Summary: 38122 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 12.6%, 3 bedroom homes decreased by 10.9%, 4 bedroom homes increased by 26%, and 5+ bedroom homes decreased by 27.8%.
Median Sold Price Compared To Nearby Zip Codes
| 38117 | $255K | $283.5K | +11.2% |
| 38122 | $168K | $149.9K | -10.8% |
Housing Supply in 38122, TN
How many homes are available in 38122, TN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 91 | 106 | +16.5% |
Summary: The 38122 real estate market had 106 homes for sale in March 2024, a 16.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 26 | 28 | +7.7% |
| 3 Bedrooms | 53 | 67 | +26.4% |
| 4 Bedrooms | 10 | 9 | -10.0% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The 38122 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 7.7%, 3 bedroom homes increased by 26.4%, 4 bedroom homes decreased by 10%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 20 | 16 | -20.0% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 38122, you may be able to get a good deal. 62.5% of homes here sold below asking price last month.
Summary: A total of 16 homes were sold or pending in 38122 in March 2024, down by 20.0% month-over-month. Of the 16 sold homes, 63% were sold under asking, 38% were sold at asking, and 0% were sold over asking.
Days on Market for 38122, TN
We’re sorry, we don't have information for this market at the moment
