Is 38221, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 38221 is a buyer's market

Buyer's
Market

Difference Since Last Month

Last month, 38221 was a Neutral Market.

Key Takeaway

38221 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 38221, TN

How much do homes in 38221, TN cost?

Median Sold Price

$150,000

$148/sqft

Based on all homes sold in April 2024.

Difference Since Last Month

-$268,000(-64.1%)

Key Takeaway

Homes in 38221 have sold for 64.1% less than they did a month ago.

Summary: The median home sold price in 38221 was $150,000 in April 2024, down 64.1% from last month, and the median price per square foot was $148.

Median Sold Price By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 --
N/A
2 $112K$150K
+33.9%
3 --
N/A
4 --
N/A
5+ $724K-
N/A

Summary: 38221 housing prices by bedroom type for April 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 33.9%, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Zip Codes

37175
+108.0%
38221
-64.1%

Housing Supply in 38221, TN

How many homes are available in 38221, TN?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
12120.0%

Summary: The 38221 real estate market had 12 homes for sale in April 2024, the same as March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 00
0.0%
2 32
-33.3%
3 88
0.0%
4 00
0.0%
5+ 12
+100.0%

Summary: The 38221 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 33.3%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
21-50.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 38221, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 1 homes were sold or pending in 38221 in April 2024, down by 50.0% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for 38221, TN

How long does it take to sell a home in 38221, TN?

Average Sale Time

Mar 2024Apr 2024CHANGE
12 Days35 Days+191.7%

Summary: Homes in 38221 had an average of 35 days on market in Apr 2024, up by 191.7% compared to last month.

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in 38221 has remained consistent over time.

Summary: During April 2024, 1 homes were sold in 38221; 0% of homes were sold within 30 days, 100% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 13 Days Ago

Newest Listings in 38221, TN

Nearby Markets to 38221, TN