Is 38108, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 38108 is a buyer's market

Buyer's
Market

Difference Since Last Month

Last month, 38108 was a Neutral Market.

Key Takeaway

38108 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 38108, TN

How much do homes in 38108, TN cost?

Median Sold Price

$130,000

-

Based on all homes sold in November 2024.

Difference Since Last Month

+$52,761(+68.3%)

Key Takeaway

Homes in 38108 have sold for 68.3% more than they did a month ago.

Median Sold Price By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 --
N/A
2 $79.7K$29K
-63.6%
3 $79.4K$140K
+76.2%
4 $75K$115K
+53.3%
5+ --
N/A

Summary: 38108 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 decreased by 63.6%, 3 bedroom homes increased by 76.2%, 4 bedroom homes increased by 53.3%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Zip Codes

38108
+68.3%
38122
+28.0%
38112
+19.0%
38128
+14.9%
38107
-18.0%

Housing Supply in 38108, TN

How many homes are available in 38108, TN?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
6574+13.8%

Summary: The 38108 real estate market had 74 homes for sale in November 2024, a 13.8% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 11
0.0%
2 1522
+46.7%
3 3941
+5.1%
4 1010
0.0%
5+ 00
0.0%

Summary: The 38108 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 increased by 46.7%, 3 bedroom homes increased by 5.1%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
107-30.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 38108, you may be able to get a good deal. 42.9% of homes here sold below asking price last month.

Summary: A total of 7 homes were sold or pending in 38108 in November 2024, down by 30.0% month-over-month. Of the 7 sold homes, 43% were sold under asking, 29% were sold at asking, and 29% were sold over asking.

Days on Market for 38108, 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 17 Days Ago

Newest Listings in 38108, TN

Nearby Markets to 38108, TN