Is 38555, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 38555 is a buyer's market

Buyer's
Market

Difference Since October 2023

At the same time last year, 38555 was a Seller's Market.

Key Takeaway

38555 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 38555, TN

How much do homes in 38555, TN cost?

Median Sold Price

$298,500

$188/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$23,500(+8.5%)

Key Takeaway

Homes in 38555 have sold for 8.5% more than they did a year ago.

Summary: The median home sold price in 38555 was $298,500 in October 2024, up 8.5% from last year, and the median price per square foot was $188.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 --
N/A
2 $209.5K$246K
+17.4%
3 $276.5K$282.5K
+2.2%
4 $389K$405K
+4.1%
5+ $625K$684K
+9.4%

Summary: 38555 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 17.4%, 3 bedroom homes increased by 2.2%, 4 bedroom homes increased by 4.1%, and 5+ bedroom homes increased by 9.4%.

Median Sold Price Compared To Nearby Zip Codes

38555
+8.5%
38571
+4.8%
38572
+4.2%

Housing Supply in 38555, TN

How many homes are available in 38555, TN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
157172+9.6%

Summary: The 38555 real estate market had 172 homes for sale in October 2024, a 9.6% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 55
0.0%
2 1821
+16.7%
3 113126
+11.5%
4 1514
-6.7%
5+ 66
0.0%

Summary: The 38555 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 16.7%, 3 bedroom homes increased by 11.5%, 4 bedroom homes decreased by 6.7%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
1722+29.4%

Asking Price vs. Sold Price

18 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 38555, you may be able to get a good deal. 81.8% of homes here sold below asking price last month.

Summary: A total of 22 homes were sold or pending in 38555 in October 2024, up by 29.4% month-over-month. Of the 22 sold homes, 82% were sold under asking, 9% were sold at asking, and 9% were sold over asking.

Days on Market for 38555, TN

How long does it take to sell a home in 38555, TN?

Average Sale Time

Oct 2023Oct 2024CHANGE
67 Days49 Days-27.3%

Summary: Homes in 38555 had an average of 49 days on market in Oct 2024, down by 27.3% compared to last year.

Breakdown of Home Sale Times

9 Homes Were Sold
Under 30 Days

12 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in 38555 has remained consistent over time.

Summary: During October 2024, 22 homes were sold in 38555; 41% of homes were sold within 30 days, 55% of homes were sold within 30 to 90 days, and 5% 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 38555, TN

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