Is 38401, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, 38401 has remained a Seller's Market.
Key Takeaway
38401 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 38401, TN
How much do homes in 38401, TN cost?
Median Sold Price
$367,972
$212/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 38401 have sold for 1.2% more than they did a year ago.
Summary: The median home sold price in 38401 was $367,972 in April 2024, up 1.2% from last year, and the median price per square foot was $212.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $219K | $280K | +27.9% |
| 2 Bedrooms | $226K | $233.6K | +3.4% |
| 3 Bedrooms | $347K | $350K | +0.9% |
| 4 Bedrooms | $450K | $477.3K | +6.1% |
| 5+ Bedrooms | $505.9K | $493.4K | -2.5% |
Summary: 38401 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 27.9%, 2 bedroom homes increased by 3.4%, 3 bedroom homes increased by 0.9%, 4 bedroom homes increased by 6.1%, and 5+ bedroom homes decreased by 2.5%.
Housing Supply in 38401, TN
How many homes are available in 38401, TN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 399 | 419 | +5.0% |
Summary: The 38401 real estate market had 419 homes for sale in April 2024, a 5.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 3 | +50.0% |
| 2 Bedrooms | 39 | 47 | +20.5% |
| 3 Bedrooms | 231 | 247 | +6.9% |
| 4 Bedrooms | 91 | 77 | -15.4% |
| 5+ Bedrooms | 36 | 45 | +25.0% |
Summary: The 38401 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 20.5%, 3 bedroom homes increased by 6.9%, 4 bedroom homes decreased by 15.4%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 92 | 90 | -2.2% |
Asking Price vs. Sold Price
43 Homes Were Sold
Under Asking
32 Homes Were Sold
At Asking
15 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 38401, you may be able to get a good deal. 47.8% of homes here sold below asking price last month.
Summary: A total of 90 homes were sold or pending in 38401 in April 2024, down by 2.2% month-over-month. Of the 90 sold homes, 48% were sold under asking, 36% were sold at asking, and 17% were sold over asking.
Days on Market for 38401, TN
How long does it take to sell a home in 38401, TN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 40 Days | 29 Days | -27.4% |
Summary: Homes in 38401 had an average of 29 days on market in Apr 2024, down by 27.4% compared to last year.
Breakdown of Home Sale Times
60 Homes Were Sold
Under 30 Days
19 Homes Were Sold
In 30 - 90 Days
9 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 38401 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 90 homes were sold in 38401; 67% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.
Listings courtesy of RealTracs Middle Tennessee Regional MLS as distributed by MLS GRID.
© 2024 of the REALTRACS MLS. All rights Reserved.