Is 38571, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 38571 is a buyer's market

Buyer's
Market

Difference Since February 2023

At the same time last year, 38571 was a Seller's Market.

Key Takeaway

38571 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 38571, TN

How much do homes in 38571, TN cost?

Median Sold Price

$324,000

$184/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$24,050(+8.0%)

Key Takeaway

Homes in 38571 have sold for 8% more than they did a year ago.

Summary: The median home sold price in 38571 was $324,000 in February 2024, up 8% from last year, and the median price per square foot was $184.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $335K$90K
-73.1%
2 $245K$205K
-16.3%
3 $305K$342.5K
+12.3%
4 $319K$352.1K
+10.4%
5+ $535K$475K
-11.2%

Summary: 38571 housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 73.1%, 2 bedroom homes decreased by 16.3%, 3 bedroom homes increased by 12.3%, 4 bedroom homes increased by 10.4%, and 5+ bedroom homes decreased by 11.2%.

Median Sold Price Compared To Nearby Zip Codes

38571
+8.0%
38553
+4.4%
38555
+3.7%
38558
+3.1%
38574
+1.3%

Housing Supply in 38571, TN

How many homes are available in 38571, TN?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
7684+10.5%

Summary: The 38571 real estate market had 84 homes for sale in February 2024, a 10.5% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 11
0.0%
2 1716
-5.9%
3 5161
+19.6%
4 45
+25.0%
5+ 31
-66.7%

Summary: The 38571 housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 5.9%, 3 bedroom homes increased by 19.6%, 4 bedroom homes increased by 25%, and 5+ bedroom homes decreased by 66.7%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
82-75.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 38571, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 2 homes were sold or pending in 38571 in February 2024, down by 75.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.

Days on Market for 38571, TN

We’re sorry, we don't have information for this market at the moment

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 38571, TN

Nearby Markets to 38571, TN