Is 38559, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 38559 is a buyer's market

Buyer's
Market

Difference Since November 2023

At the same time last year, 38559 was a Seller's Market.

Key Takeaway

38559 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 38559, TN

How much do homes in 38559, TN cost?

Median Sold Price

$256,750

$183/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

-$8,150(-3.1%)

Key Takeaway

Homes in 38559 have sold for 3.1% less than they did a year ago.

Summary: The median home sold price in 38559 was $256,750 in November 2024, down 3.1% from last year, and the median price per square foot was $183.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 --
N/A
2 $192K$157.5K
-18.0%
3 $264.9K$260.7K
-1.6%
4 $474.9K-
N/A
5+ --
N/A

Summary: 38559 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 18%, 3 bedroom homes decreased by 1.6%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Zip Codes

38583
+16.2%
38559
-3.1%

Housing Supply in 38559, TN

How many homes are available in 38559, TN?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
990.0%

Summary: The 38559 real estate market had 9 homes for sale in November 2024, the same as October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 33
0.0%
3 66
0.0%
4 00
0.0%
5+ 00
0.0%

Summary: The 38559 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 remained the same, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
110.0%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 38559, expect to pay close to the asking price. 100% of homes here sold near the asking price last month.

Summary: A total of 1 homes were sold or pending in 38559 in November 2024, the same as the previous month. Of the 1 sold homes, 0% were sold under asking, 100% were sold at asking, and 0% were sold over asking.

Days on Market for 38559, TN

How long does it take to sell a home in 38559, TN?

Average Sale Time

Nov 2023Nov 2024CHANGE
52 Days36 Days-31.6%

Summary: Homes in 38559 had an average of 36 days on market in Nov 2024, down by 31.6% compared to last year.

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 38559 has remained consistent over time.

Summary: During November 2024, 1 homes were sold in 38559; 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 38559, TN

Nearby Markets to 38559, TN