Is 38504, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 38504 is a buyer's market

Buyer's
Market

Difference Since Last Month

Last month, 38504 was a Seller's Market.

Key Takeaway

38504 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 38504, TN

How much do homes in 38504, TN cost?

Median Sold Price

$280,000

$182/sqft

Based on all homes sold in November 2024.

Difference Since Last Month

+$135,000(+93.1%)

Key Takeaway

Homes in 38504 have sold for 93.1% more than they did a month ago.

Summary: The median home sold price in 38504 was $280,000 in November 2024, up 93.1% from last month, and the median price per square foot was $182.

Median Sold Price By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 --
N/A
2 $170K-
N/A
3 $120K$280K
+133.3%
4 --
N/A
5+ --
N/A

Summary: 38504 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 increased by 133.3%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Housing Supply in 38504, TN

How many homes are available in 38504, TN?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
78+14.3%

Summary: The 38504 real estate market had 8 homes for sale in November 2024, a 14.3% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 01
+100.0%
2 21
-50.0%
3 56
+20.0%
4 00
0.0%
5+ 00
0.0%

Summary: The 38504 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 50%, 3 bedroom homes increased by 20%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
21-50.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 38504, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 1 homes were sold or pending in 38504 in November 2024, down by 50.0% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for 38504, TN

How long does it take to sell a home in 38504, TN?

Average Sale Time

Oct 2024Nov 2024CHANGE
23 Days71 Days+202.1%

Summary: Homes in 38504 had an average of 71 days on market in Nov 2024, up by 202.1% compared to last month.

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in 38504 has remained consistent over time.

Summary: During November 2024, 1 homes were sold in 38504; 0% of homes were sold within 30 days, 100% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 21 Days Ago

Newest Listings in 38504, TN

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