Is 38583, 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, 38583 was a Seller's Market.
Housing Prices in 38583, TN
How much do homes in 38583, TN cost?
Median Sold Price
$264,900
$174/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 38583 was $264,900 in March 2024, up 2.3% from last year, and the median price per square foot was $174.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $201.7K | $160.5K | -20.4% |
2 Bedrooms | $177.2K | $200K | +12.8% |
3 Bedrooms | $255K | $269.9K | +5.8% |
4 Bedrooms | $355.9K | $325K | -8.7% |
5+ Bedrooms | $329.9K | $409.9K | +24.2% |
Summary: 38583 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 20.4%, 2 bedroom homes increased by 12.8%, 3 bedroom homes increased by 5.8%, 4 bedroom homes decreased by 8.7%, and 5+ bedroom homes increased by 24.2%.
Median Sold Price Compared To Nearby Zip Codes
38544 | $315K | $349.9K | +11.1% |
38583 | $259K | $264.9K | +2.3% |
38587 | $320K | $277.5K | -13.3% |
Housing Supply in 38583, TN
How many homes are available in 38583, TN?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
133 | 135 | +1.5% |
Summary: The 38583 real estate market had 135 homes for sale in March 2024, a 1.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 2 | -50.0% |
2 Bedrooms | 22 | 25 | +13.6% |
3 Bedrooms | 71 | 68 | -4.2% |
4 Bedrooms | 24 | 25 | +4.2% |
5+ Bedrooms | 12 | 15 | +25.0% |
Summary: The 38583 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 13.6%, 3 bedroom homes decreased by 4.2%, 4 bedroom homes increased by 4.2%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
25 | 19 | -24.0% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 19 homes were sold or pending in 38583 in March 2024, down by 24.0% month-over-month. Of the 18 sold homes, 72% were sold under asking, 17% were sold at asking, and 11% were sold over asking.
Days on Market for 38583, TN
How long does it take to sell a home in 38583, TN?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
73 Days | 62 Days | -15.6% |
Summary: Homes in 38583 had an average of 62 days on market in Mar 2024, down by 15.6% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Summary: During March 2024, 19 homes were sold in 38583; 42% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 26% of homes were sold over 90 days.