Is 38560, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 38560 is a seller's market

Buyer's
Market

Difference Since Last Month

Since last month, 38560 has remained a Seller's Market.

Key Takeaway

38560 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 38560, TN

How much do homes in 38560, TN cost?

Median Sold Price

$537,000

$335/sqft

Based on all homes sold in November 2024.

Difference Since Last Month

+$302,000(+128.5%)

Key Takeaway

Homes in 38560 have sold for 128.5% more than they did a month ago.

Summary: The median home sold price in 38560 was $537,000 in November 2024, up 128.5% from last month, and the median price per square foot was $335.

Median Sold Price By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 --
N/A
2 $201.2K-
N/A
3 $259.9K$537K
+106.6%
4 --
N/A
5+ --
N/A

Summary: 38560 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 106.6%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Zip Codes

38560
+128.5%
38552
+35.4%
38567
+3.1%

Housing Supply in 38560, TN

How many homes are available in 38560, TN?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
1312-7.7%

Summary: The 38560 real estate market had 12 homes for sale in November 2024, a 7.7% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 32
-33.3%
3 88
0.0%
4 22
0.0%
5+ 00
0.0%

Summary: The 38560 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 decreased by 33.3%, 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
53-40.0%

Asking Price vs. Sold Price

3 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 38560, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 3 homes were sold or pending in 38560 in November 2024, down by 40.0% month-over-month. Of the 3 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for 38560, TN

How long does it take to sell a home in 38560, TN?

Average Sale Time

Oct 2024Nov 2024CHANGE
58 Days50 Days-15.0%

Summary: Homes in 38560 had an average of 50 days on market in Nov 2024, down by 15% compared to last month.

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

2 Homes Were 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 38560 has remained consistent over time.

Summary: During November 2024, 3 homes were sold in 38560; 0% of homes were sold within 30 days, 67% 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 22 Days Ago

Newest Listings in 38560, TN

Nearby Markets to 38560, TN