Is 37938, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 37938 is a buyer's market

Buyer's
Market

Difference Since November 2023

At the same time last year, 37938 was a Seller's Market.

Key Takeaway

37938 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 37938, TN

How much do homes in 37938, TN cost?

Median Sold Price

$398,125

$200/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$26,125(+7.0%)

Key Takeaway

Homes in 37938 have sold for 7% more than they did a year ago.

Summary: The median home sold price in 37938 was $398,125 in November 2024, up 7% from last year, and the median price per square foot was $200.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 --
N/A
2 $240K$264.9K
+10.4%
3 $348K$362.3K
+4.1%
4 $470K$486.5K
+3.5%
5+ $490K$550K
+12.2%

Summary: 37938 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 10.4%, 3 bedroom homes increased by 4.1%, 4 bedroom homes increased by 3.5%, and 5+ bedroom homes increased by 12.2%.

Median Sold Price Compared To Nearby Zip Codes

37721
+11.7%
37849
+8.8%
37938
+7.0%
37918
+3.0%
37754
-8.0%

Housing Supply in 37938, TN

How many homes are available in 37938, TN?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
7479+6.8%

Summary: The 37938 real estate market had 79 homes for sale in November 2024, a 6.8% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 1312
-7.7%
3 3340
+21.2%
4 2221
-4.5%
5+ 66
0.0%

Summary: The 37938 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 7.7%, 3 bedroom homes increased by 21.2%, 4 bedroom homes decreased by 4.5%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
2111-47.6%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 37938, you may be able to get a good deal. 80% of homes here sold below asking price last month.

Summary: A total of 11 homes were sold or pending in 37938 in November 2024, down by 47.6% month-over-month. Of the 10 sold homes, 80% were sold under asking, 20% were sold at asking, and 0% were sold over asking.

Days on Market for 37938, TN

How long does it take to sell a home in 37938, TN?

Average Sale Time

Nov 2023Nov 2024CHANGE
16 Days51 Days+211.1%

Summary: Homes in 37938 had an average of 51 days on market in Nov 2024, up by 211.1% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 37938 are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 11 homes were sold in 37938; 45% of homes were sold within 30 days, 36% of homes were sold within 30 to 90 days, and 18% 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 17 Days Ago

Newest Listings in 37938, TN

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