Is 38501, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, 38501 was a Seller's Market.
Housing Prices in 38501, TN
How much do homes in 38501, TN cost?
Median Sold Price
$292,000
$190/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 38501 was $292,000 in March 2024, up 1.7% from last year, and the median price per square foot was $190.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $125K | $135K | +8.0% |
2 Bedrooms | $219K | $209.2K | -4.5% |
3 Bedrooms | $281K | $291K | +3.6% |
4 Bedrooms | $386.2K | $410K | +6.1% |
5+ Bedrooms | $546.2K | $651.8K | +19.3% |
Summary: 38501 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8%, 2 bedroom homes decreased by 4.5%, 3 bedroom homes increased by 3.6%, 4 bedroom homes increased by 6.1%, and 5+ bedroom homes increased by 19.3%.
Housing Supply in 38501, TN
How many homes are available in 38501, TN?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
100 | 114 | +14.0% |
Summary: The 38501 real estate market had 114 homes for sale in March 2024, a 14.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 13 | 16 | +23.1% |
3 Bedrooms | 55 | 67 | +21.8% |
4 Bedrooms | 28 | 24 | -14.3% |
5+ Bedrooms | 4 | 7 | +75.0% |
Summary: The 38501 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 23.1%, 3 bedroom homes increased by 21.8%, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes increased by 75%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
12 | 13 | +8.3% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 13 homes were sold or pending in 38501 in March 2024, up by 8.3% month-over-month. Of the 13 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for 38501, TN
How long does it take to sell a home in 38501, TN?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
33 Days | 109 Days | +231.1% |
Summary: Homes in 38501 had an average of 109 days on market in Mar 2024, up by 231.1% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Summary: During March 2024, 13 homes were sold in 38501; 23% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 46% of homes were sold over 90 days.