Is 38478, 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, 38478 has remained a Seller's Market.
Housing Prices in 38478, TN
How much do homes in 38478, TN cost?
Median Sold Price
$254,500
$166/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 38478 was $254,500 in March 2024, up 1.8% from last year, and the median price per square foot was $166.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $240K | $125K | -47.9% |
2 Bedrooms | $150.5K | $183K | +21.6% |
3 Bedrooms | $260K | $254K | -2.3% |
4 Bedrooms | $293.7K | $375K | +27.7% |
5+ Bedrooms | $477.9K | $677.5K | +41.8% |
Summary: 38478 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 47.9%, 2 bedroom homes increased by 21.6%, 3 bedroom homes decreased by 2.3%, 4 bedroom homes increased by 27.7%, and 5+ bedroom homes increased by 41.8%.
Median Sold Price Compared To Nearby Zip Codes
38478 | $250K | $254.5K | +1.8% |
38472 | $353.5K | $322.5K | -8.8% |
38477 | $249.5K | $222K | -11.0% |
Housing Supply in 38478, TN
How many homes are available in 38478, TN?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
92 | 106 | +15.2% |
Summary: The 38478 real estate market had 106 homes for sale in March 2024, a 15.2% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 8 | 14 | +75.0% |
3 Bedrooms | 62 | 70 | +12.9% |
4 Bedrooms | 16 | 16 | 0.0% |
5+ Bedrooms | 5 | 5 | 0.0% |
Summary: The 38478 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 75%, 3 bedroom homes increased by 12.9%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
11 | 20 | +81.8% |
Asking Price vs. Sold Price
15 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 20 homes were sold or pending in 38478 in March 2024, up by 81.8% month-over-month. Of the 20 sold homes, 75% were sold under asking, 10% were sold at asking, and 15% were sold over asking.
Days on Market for 38478, TN
How long does it take to sell a home in 38478, TN?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
41 Days | 68 Days | +65.4% |
Summary: Homes in 38478 had an average of 68 days on market in Mar 2024, up by 65.4% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Summary: During March 2024, 20 homes were sold in 38478; 45% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 30% of homes were sold over 90 days.