$2,791 Closing Credit*
$235,000
1,020 SqFt
2 Beds
•1 Full Bath, 1 Partial
Andrew Earl, Listing Office: simpliHOM
Is 38401, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, 38401 was a Seller's Market.
Key Takeaway
38401 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 38401, TN
How much do homes in 38401, TN cost?
Median Sold Price
$390,437
$213/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$37,765(+10.7%)
Key Takeaway
Homes in 38401 have sold for 10.7% more than they did a year ago.
Summary: The median home sold price in 38401 was $390,437 in November 2024, up 10.7% from last year, and the median price per square foot was $213.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $254.8K | $314.5K | +23.4% |
| 2 Bedrooms | $234.3K | $239.9K | +2.4% |
| 3 Bedrooms | $335.4K | $360.9K | +7.6% |
| 4 Bedrooms | $437.7K | $455K | +3.9% |
| 5+ Bedrooms | $480K | $509.9K | +6.2% |
Summary: 38401 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 23.4%, 2 bedroom homes increased by 2.4%, 3 bedroom homes increased by 7.6%, 4 bedroom homes increased by 3.9%, and 5+ bedroom homes increased by 6.2%.
Housing Supply in 38401, TN
How many homes are available in 38401, TN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 468 | 464 | -0.9% |
Summary: The 38401 real estate market had 464 homes for sale in November 2024, a 0.9% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 5 | +25.0% |
| 2 Bedrooms | 29 | 26 | -10.3% |
| 3 Bedrooms | 261 | 268 | +2.7% |
| 4 Bedrooms | 127 | 114 | -10.2% |
| 5+ Bedrooms | 47 | 51 | +8.5% |
Summary: The 38401 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25%, 2 bedroom homes decreased by 10.3%, 3 bedroom homes increased by 2.7%, 4 bedroom homes decreased by 10.2%, and 5+ bedroom homes increased by 8.5%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 110 | 57 | -48.2% |
Asking Price vs. Sold Price
31 Homes Were Sold
Under Asking
18 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 38401, you may be able to get a good deal. 55.4% of homes here sold below asking price last month.
Summary: A total of 57 homes were sold or pending in 38401 in November 2024, down by 48.2% month-over-month. Of the 56 sold homes, 55% were sold under asking, 32% were sold at asking, and 13% were sold over asking.
Days on Market for 38401, TN
How long does it take to sell a home in 38401, TN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 24 Days | 30 Days | +25.7% |
Summary: Homes in 38401 had an average of 30 days on market in Nov 2024, up by 25.7% compared to last year.
Breakdown of Home Sale Times
35 Homes Were Sold
Under 30 Days
18 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 38401 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 57 homes were sold in 38401; 61% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
Listings courtesy of RealTracs Middle Tennessee Regional MLS as distributed by MLS GRID.
© 2024 of the REALTRACS MLS. All rights Reserved. 
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