Is 38562, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, 38562 was a Seller's Market.
Key Takeaway
38562 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in 38562, TN
How much do homes in 38562, TN cost?
Median Sold Price
$247,450
$164/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 38562 have sold for 36% more than they did a year ago.
Summary: The median home sold price in 38562 was $247,450 in April 2024, up 36% from last year, and the median price per square foot was $164.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $123K | $162.5K | +32.1% |
| 2 Bedrooms | $109.9K | $185K | +68.3% |
| 3 Bedrooms | $200K | $269.9K | +34.9% |
| 4 Bedrooms | $375K | $302.4K | -19.4% |
| 5+ Bedrooms | $365K | $110K | -69.9% |
Summary: 38562 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 32.1%, 2 bedroom homes increased by 68.3%, 3 bedroom homes increased by 34.9%, 4 bedroom homes decreased by 19.4%, and 5+ bedroom homes decreased by 69.9%.
Median Sold Price Compared To Nearby Zip Codes
| 38562 | $182K | $247.4K | +36.0% |
| 38501 | $281K | $302K | +7.5% |
Housing Supply in 38562, TN
How many homes are available in 38562, TN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 35 | 32 | -8.6% |
Summary: The 38562 real estate market had 32 homes for sale in April 2024, a 8.6% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 2 | -33.3% |
| 2 Bedrooms | 14 | 15 | +7.1% |
| 3 Bedrooms | 14 | 11 | -21.4% |
| 4 Bedrooms | 4 | 4 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 38562 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes increased by 7.1%, 3 bedroom homes decreased by 21.4%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 4 | 5 | +25.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 38562, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in 38562 in April 2024, up by 25.0% month-over-month. Of the 5 sold homes, 60% were sold under asking, 40% were sold at asking, and 0% were sold over asking.
Days on Market for 38562, TN
How long does it take to sell a home in 38562, TN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 44 Days | 80 Days | +83.2% |
Summary: Homes in 38562 had an average of 80 days on market in Apr 2024, up by 83.2% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 38562 has remained consistent over time.
Summary: During April 2024, 5 homes were sold in 38562; 20% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 40% 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. 
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Knoxville Area Association of REALTORS® Multiple Listing Service. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some or all of the listings may not belong to the firm whose website is being visited. Real estate listings held by brokerage firms other than this broker are indicated by detailed information about them such as the name of the listing firms.