$2,196 Closing Credit*
$184,901
3 Beds
•2 Full Baths
Listing Office: 901, REALTORS
Is 38116, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, 38116 was a Seller's Market.
Key Takeaway
38116 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in 38116, TN
How much do homes in 38116, TN cost?
Median Sold Price
$140,000
-
Based on all homes sold in December 2024.
Difference Since Last Month
-$28,750(-17.0%)
Key Takeaway
Homes in 38116 have sold for 17% less than they did a month ago.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $82.5K | $59.9K | -27.4% |
| 3 Bedrooms | $168.7K | $140K | -17.0% |
| 4 Bedrooms | $255K | $160K | -37.3% |
| 5+ Bedrooms | - | - | N/A |
Summary: 38116 housing prices by bedroom type for December 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 27.4%, 3 bedroom homes decreased by 17%, 4 bedroom homes decreased by 37.3%, and 5+ bedroom homes did not change.
Housing Supply in 38116, TN
How many homes are available in 38116, TN?
Number of Homes For Sale
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 85 | 92 | +8.2% |
Summary: The 38116 real estate market had 92 homes for sale in December 2024, a 8.2% increase compared to November 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 6 | 5 | -16.7% |
| 3 Bedrooms | 59 | 61 | +3.4% |
| 4 Bedrooms | 19 | 25 | +31.6% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 38116 housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 16.7%, 3 bedroom homes increased by 3.4%, 4 bedroom homes increased by 31.6%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 16 | 15 | -6.3% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 38116, you may be able to get a good deal. 46.7% of homes here sold below asking price last month.
Summary: A total of 15 homes were sold or pending in 38116 in December 2024, down by 6.3% month-over-month. Of the 15 sold homes, 47% were sold under asking, 27% were sold at asking, and 27% were sold over asking.
Days on Market for 38116, TN
We’re sorry, we don't have information for this market at the moment
