Is 38041, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 38041 is a seller's market

Buyer's
Market

Difference Since Last Month

Since last month, 38041 has remained a Seller's Market.

Key Takeaway

38041 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 38041, TN

How much do homes in 38041, TN cost?

Median Sold Price

$38,500

-

Based on all homes sold in November 2024.

Difference Since Last Month

-$152,875(-79.9%)

Key Takeaway

Homes in 38041 have sold for 79.9% less than they did a month ago.

Median Sold Price By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 --
N/A
2 -$38.5K
N/A
3 $191.3K-
N/A
4 --
N/A
5+ --
N/A

Summary: 38041 housing prices by bedroom type for November 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Zip Codes

38019
-16.1%
38063
-66.6%
38041
-79.9%

Housing Supply in 38041, TN

How many homes are available in 38041, TN?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
43-25.0%

Summary: The 38041 real estate market had 3 homes for sale in November 2024, a 25.0% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 11
0.0%
3 32
-33.3%
4 00
0.0%
5+ 00
0.0%

Summary: The 38041 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 remained the same, 3 bedroom homes decreased by 33.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
21-50.0%

Asking Price vs. Sold Price

1 Home Was 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 38041, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 1 homes were sold or pending in 38041 in November 2024, down by 50.0% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for 38041, 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 18 Days Ago

Newest Listings in 38041, TN

Nearby Markets to 38041, TN