Is 38107, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 38107 is a buyer's market

Buyer's
Market

Difference Since Last Month

Since last month, 38107 has remained a Buyer's Market.

Key Takeaway

38107 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 38107, TN

How much do homes in 38107, TN cost?

Median Sold Price

$226,200

-

Based on all homes sold in October 2024.

Difference Since Last Month

+$34,450(+18.0%)

Key Takeaway

Homes in 38107 have sold for 18% more than they did a month ago.

Median Sold Price By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 --
N/A
2 -$84.4K
N/A
3 $180K$335K
+86.1%
4 $203.5K$293.7K
+44.3%
5+ --
N/A

Summary: 38107 housing prices by bedroom type for October 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 increased by 86.1%, 4 bedroom homes increased by 44.3%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Zip Codes

38112
+133.6%
38107
+18.0%
38103
+17.0%
38104
-33.3%

Housing Supply in 38107, TN

How many homes are available in 38107, TN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
81107+32.1%

Summary: The 38107 real estate market had 107 homes for sale in October 2024, a 32.1% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 1627
+68.8%
3 4457
+29.5%
4 1920
+5.3%
5+ 23
+50.0%

Summary: The 38107 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 68.8%, 3 bedroom homes increased by 29.5%, 4 bedroom homes increased by 5.3%, and 5+ bedroom homes increased by 50%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
47+75.0%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 38107, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.

Summary: A total of 7 homes were sold or pending in 38107 in October 2024, up by 75.0% month-over-month. Of the 7 sold homes, 57% were sold under asking, 29% were sold at asking, and 14% were sold over asking.

Days on Market for 38107, 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 14 Days Ago

Newest Listings in 38107, TN

Nearby Markets to 38107, TN