Is 38451, 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, 38451 was a Neutral Market.
Key Takeaway
38451 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 38451, TN
How much do homes in 38451, TN cost?
Median Sold Price
$450,000
$280/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 38451 have sold for 10% less than they did a year ago.
Summary: The median home sold price in 38451 was $450,000 in April 2024, down 10% from last year, and the median price per square foot was $280.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $250K | N/A |
| 2 Bedrooms | $390K | $557.5K | +42.9% |
| 3 Bedrooms | $437.5K | $439.9K | +0.6% |
| 4 Bedrooms | $785K | $750K | -4.5% |
| 5+ Bedrooms | $792.5K | $1.0M | +35.6% |
Summary: 38451 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 42.9%, 3 bedroom homes increased by 0.6%, 4 bedroom homes decreased by 4.5%, and 5+ bedroom homes increased by 35.6%.
Housing Supply in 38451, TN
How many homes are available in 38451, TN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 13 | 15 | +15.4% |
Summary: The 38451 real estate market had 15 homes for sale in April 2024, a 15.4% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 10 | 12 | +20.0% |
| 4 Bedrooms | 1 | 1 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 38451 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 remained the same, 3 bedroom homes increased by 20%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 2 | 2 | 0.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 38451, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 2 homes were sold or pending in 38451 in April 2024, the same as the previous month. Of the 2 sold homes, 0% were sold under asking, 50% were sold at asking, and 50% were sold over asking.
Days on Market for 38451, TN
How long does it take to sell a home in 38451, TN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 23 Days | 6 Days | -73.9% |
Summary: Homes in 38451 had an average of 6 days on market in Apr 2024, down by 73.9% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 38451 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 2 homes were sold in 38451; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% 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.