Is 38361, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 38361 is a buyer's market

Buyer's
Market

Difference Since Last Month

Last month, 38361 was a Neutral Market.

Key Takeaway

38361 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 38361, TN

How much do homes in 38361, TN cost?

Median Sold Price

$242,000

-

Based on all homes sold in February 2024.

Difference Since Last Month

-$23,000(-8.7%)

Key Takeaway

Homes in 38361 have sold for 8.7% less than they did a month ago.

Median Sold Price By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 --
N/A
2 --
N/A
3 $265K$242K
-8.7%
4 --
N/A
5+ --
N/A

Summary: 38361 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 decreased by 8.7%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Zip Codes

38372
+14.0%
38361
-8.7%
38310
-64.2%

Housing Supply in 38361, TN

How many homes are available in 38361, TN?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
1210-16.7%

Summary: The 38361 real estate market had 10 homes for sale in February 2024, a 16.7% decrease compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 22
0.0%
2 00
0.0%
3 53
-40.0%
4 44
0.0%
5+ 11
0.0%

Summary: The 38361 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 remained the same, 3 bedroom homes decreased by 40%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
21-50.0%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 38361, you could pay more than the asking price. 100% of homes here sold above asking price last month.

Summary: A total of 1 homes were sold or pending in 38361 in February 2024, down by 50.0% month-over-month. Of the 1 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.

Days on Market for 38361, 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 27 Days Ago

Newest Listings in 38361, TN

Nearby Markets to 38361, TN