Is 38462, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, 38462 has remained a Seller's Market.
Key Takeaway
38462 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 38462, TN
How much do homes in 38462, TN cost?
Median Sold Price
$250,000
$174/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 38462 have sold for 2% more than they did a year ago.
Summary: The median home sold price in 38462 was $250,000 in March 2024, up 2% from last year, and the median price per square foot was $174.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $125K | $215K | +72.0% |
| 2 Bedrooms | $139.9K | $160.5K | +14.7% |
| 3 Bedrooms | $229.5K | $262.7K | +14.5% |
| 4 Bedrooms | $325K | $265K | -18.5% |
| 5+ Bedrooms | $460K | $289K | -37.2% |
Summary: 38462 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 72%, 2 bedroom homes increased by 14.7%, 3 bedroom homes increased by 14.5%, 4 bedroom homes decreased by 18.5%, and 5+ bedroom homes decreased by 37.2%.
Housing Supply in 38462, TN
How many homes are available in 38462, TN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 51 | 52 | +2.0% |
Summary: The 38462 real estate market had 52 homes for sale in March 2024, a 2.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 8 | 9 | +12.5% |
| 3 Bedrooms | 31 | 29 | -6.5% |
| 4 Bedrooms | 9 | 10 | +11.1% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The 38462 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 12.5%, 3 bedroom homes decreased by 6.5%, 4 bedroom homes increased by 11.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 7 | 11 | +57.1% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 38462, you may be able to get a good deal. 54.5% of homes here sold below asking price last month.
Summary: A total of 11 homes were sold or pending in 38462 in March 2024, up by 57.1% month-over-month. Of the 11 sold homes, 55% were sold under asking, 27% were sold at asking, and 18% were sold over asking.
Days on Market for 38462, TN
How long does it take to sell a home in 38462, TN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 36 Days | 73 Days | +99.6% |
Summary: Homes in 38462 had an average of 73 days on market in Mar 2024, up by 99.6% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 38462 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 11 homes were sold in 38462; 36% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 36% 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.