Is 38506, 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, 38506 has remained a Seller's Market.
Housing Prices in 38506, TN
How much do homes in 38506, TN cost?
Median Sold Price
$360,000
$186/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 38506 was $360,000 in March 2024, up 9.9% from last year, and the median price per square foot was $186.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $213K | N/A |
2 Bedrooms | $240K | $172.5K | -28.1% |
3 Bedrooms | $310K | $348.4K | +12.4% |
4 Bedrooms | $499.9K | $406.5K | -18.7% |
5+ Bedrooms | $559.7K | $767K | +37.0% |
Summary: 38506 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 28.1%, 3 bedroom homes increased by 12.4%, 4 bedroom homes decreased by 18.7%, and 5+ bedroom homes increased by 37%.
Housing Supply in 38506, TN
How many homes are available in 38506, TN?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
98 | 108 | +10.2% |
Summary: The 38506 real estate market had 108 homes for sale in March 2024, a 10.2% 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 | 8 | 7 | -12.5% |
3 Bedrooms | 67 | 74 | +10.4% |
4 Bedrooms | 15 | 20 | +33.3% |
5+ Bedrooms | 8 | 7 | -12.5% |
Summary: The 38506 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 decreased by 12.5%, 3 bedroom homes increased by 10.4%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes decreased by 12.5%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
19 | 23 | +21.1% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 23 homes were sold or pending in 38506 in March 2024, up by 21.1% month-over-month. Of the 23 sold homes, 52% were sold under asking, 30% were sold at asking, and 17% were sold over asking.
Days on Market for 38506, TN
How long does it take to sell a home in 38506, TN?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
38 Days | 46 Days | +22.8% |
Summary: Homes in 38506 had an average of 46 days on market in Mar 2024, up by 22.8% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Summary: During March 2024, 23 homes were sold in 38506; 65% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 22% of homes were sold over 90 days.