Is 38556, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 38556 is a buyer's market

Buyer's
Market

Difference Since November 2023

At the same time last year, 38556 was a Seller's Market.

Key Takeaway

38556 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 38556, TN

How much do homes in 38556, TN cost?

Median Sold Price

$244,900

$172/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

-$100(0%)

Key Takeaway

The sold price of homes in 38556 has remained the same since last year.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $153K$202K
+32.0%
2 $182.5K$190K
+4.1%
3 $269.9K$275K
+1.9%
4 $239K$307.5K
+28.7%
5+ $498K$1.2M
+151.0%

Summary: 38556 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 32%, 2 bedroom homes increased by 4.1%, 3 bedroom homes increased by 1.9%, 4 bedroom homes increased by 28.7%, and 5+ bedroom homes increased by 151%.

Median Sold Price Compared To Nearby Zip Codes

38565
0.3%
38556
0%

Housing Supply in 38556, TN

How many homes are available in 38556, TN?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
172185+7.6%

Summary: The 38556 real estate market had 185 homes for sale in November 2024, a 7.6% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 1010
0.0%
2 3337
+12.1%
3 117123
+5.1%
4 1113
+18.2%
5+ 12
+100.0%

Summary: The 38556 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 12.1%, 3 bedroom homes increased by 5.1%, 4 bedroom homes increased by 18.2%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
1416+14.3%

Asking Price vs. Sold Price

16 Homes Were 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 38556, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 16 homes were sold or pending in 38556 in November 2024, up by 14.3% month-over-month. Of the 16 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for 38556, TN

How long does it take to sell a home in 38556, TN?

Average Sale Time

Nov 2023Nov 2024CHANGE
68 Days81 Days+20.2%

Summary: Homes in 38556 had an average of 81 days on market in Nov 2024, up by 20.2% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

7 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in 38556 are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During November 2024, 16 homes were sold in 38556; 19% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 44% 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 38556, TN

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