Is 38553, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 38553 is a buyer's market

Buyer's
Market

Difference Since March 2023

At the same time last year, 38553 was a Seller's Market.

Key Takeaway

38553 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 38553, TN

How much do homes in 38553, TN cost?

Median Sold Price

$250,000

$180/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$22,500(+9.9%)

Key Takeaway

Homes in 38553 have sold for 9.9% more than they did a year ago.

Summary: The median home sold price in 38553 was $250,000 in March 2024, up 9.9% from last year, and the median price per square foot was $180.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 -$178K
N/A
2 $210K$159.9K
-23.9%
3 $241K$259K
+7.5%
4 $220.2K-
N/A
5+ $75K$218K
+190.7%

Summary: 38553 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 23.9%, 3 bedroom homes increased by 7.5%, 4 bedroom homes did not change, and 5+ bedroom homes increased by 190.7%.

Median Sold Price Compared To Nearby Zip Codes

38553
+9.9%
38571
+3.3%
38565
-14.9%

Housing Supply in 38553, TN

How many homes are available in 38553, TN?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
29290.0%

Summary: The 38553 real estate market had 29 homes for sale in March 2024, the same as February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 00
0.0%
2 02
+100.0%
3 2221
-4.5%
4 76
-14.3%
5+ 00
0.0%

Summary: The 38553 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 100%, 3 bedroom homes decreased by 4.5%, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
220.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 38553, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 2 homes were sold or pending in 38553 in March 2024, the same as the previous month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for 38553, TN

How long does it take to sell a home in 38553, TN?

Average Sale Time

Mar 2023Mar 2024CHANGE
62 Days12 Days-80.8%

Summary: Homes in 38553 had an average of 12 days on market in Mar 2024, down by 80.8% 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

Breakdown of Home Sale Times

Key Takeaway

Many homes in 38553 are selling fast, if you're buying plan to act quickly.

Summary: During March 2024, 2 homes were sold in 38553; 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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 28 Days Ago

Newest Listings in 38553, TN

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