$45,000
0.49 Acres
Land
Ashley Cavazos, Listing Office: Cadence Real Estate
Is 38401, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, 38401 has remained a Seller's Market.
Key Takeaway
38401 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 38401, TN
How much do homes in 38401, TN cost?
Median Sold Price
$387,620
$213/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$33,676(+9.5%)
Key Takeaway
Homes in 38401 have sold for 9.5% more than they did a year ago.
Summary: The median home sold price in 38401 was $387,620 in October 2024, up 9.5% from last year, and the median price per square foot was $213.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $254.8K | $314.5K | +23.4% |
| 2 Bedrooms | $235K | $237.6K | +1.1% |
| 3 Bedrooms | $338.2K | $359.9K | +6.4% |
| 4 Bedrooms | $438.9K | $463.1K | +5.5% |
| 5+ Bedrooms | $491.8K | $500.5K | +1.8% |
Summary: 38401 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 23.4%, 2 bedroom homes increased by 1.1%, 3 bedroom homes increased by 6.4%, 4 bedroom homes increased by 5.5%, and 5+ bedroom homes increased by 1.8%.
Housing Supply in 38401, TN
How many homes are available in 38401, TN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 472 | 505 | +7.0% |
Summary: The 38401 real estate market had 505 homes for sale in October 2024, a 7.0% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 4 | -20.0% |
| 2 Bedrooms | 34 | 30 | -11.8% |
| 3 Bedrooms | 269 | 285 | +5.9% |
| 4 Bedrooms | 118 | 131 | +11.0% |
| 5+ Bedrooms | 46 | 55 | +19.6% |
Summary: The 38401 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 20%, 2 bedroom homes decreased by 11.8%, 3 bedroom homes increased by 5.9%, 4 bedroom homes increased by 11%, and 5+ bedroom homes increased by 19.6%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 99 | 90 | -9.1% |
Asking Price vs. Sold Price
48 Homes Were Sold
Under Asking
31 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 38401, you may be able to get a good deal. 53.9% of homes here sold below asking price last month.
Summary: A total of 90 homes were sold or pending in 38401 in October 2024, down by 9.1% month-over-month. Of the 89 sold homes, 54% were sold under asking, 35% were sold at asking, and 11% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 42 Days | 24 Days | -43.2% |
Summary: Homes in 38401 had an average of 24 days on market in Oct 2024, down by 43.2% compared to last year.
Breakdown of Home Sale Times
65 Homes Were Sold
Under 30 Days
19 Homes Were Sold
In 30 - 90 Days
3 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 October 2024, 90 homes were sold in 38401; 72% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 3% 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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