Is 38109, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 38109 is a buyer's market

Buyer's
Market

Difference Since Last Month

Last month, 38109 was a Seller's Market.

Key Takeaway

38109 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 38109, TN

How much do homes in 38109, TN cost?

Median Sold Price

$86,000

-

Based on all homes sold in November 2024.

Difference Since Last Month

-$27,500(-24.2%)

Key Takeaway

Homes in 38109 have sold for 24.2% less than they did a month ago.

Median Sold Price By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 --
N/A
2 -$69K
N/A
3 $115K$80.5K
-30.0%
4 $112K$100K
-10.7%
5+ -$195K
N/A

Summary: 38109 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 decreased by 30%, 4 bedroom homes decreased by 10.7%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Zip Codes

38116
-4.1%
38109
-24.2%
38106
-36.8%

Housing Supply in 38109, TN

How many homes are available in 38109, TN?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
132152+15.2%

Summary: The 38109 real estate market had 152 homes for sale in November 2024, a 15.2% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 11
0.0%
2 1319
+46.2%
3 92102
+10.9%
4 2225
+13.6%
5+ 45
+25.0%

Summary: The 38109 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 46.2%, 3 bedroom homes increased by 10.9%, 4 bedroom homes increased by 13.6%, and 5+ bedroom homes increased by 25%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
2415-37.5%

Asking Price vs. Sold Price

9 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 38109, you may be able to get a good deal. 60% of homes here sold below asking price last month.

Summary: A total of 15 homes were sold or pending in 38109 in November 2024, down by 37.5% month-over-month. Of the 15 sold homes, 60% were sold under asking, 27% were sold at asking, and 13% were sold over asking.

Days on Market for 38109, 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 38109, TN

Nearby Markets to 38109, TN