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 October 2023

At the same time last year, 38560 was a Neutral 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

$294,950

$203/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

-$34,550(-10.5%)

Key Takeaway

Homes in 38560 have sold for 10.5% less than they did a year ago.

Summary: The median home sold price in 38560 was $294,950 in October 2024, down 10.5% from last year, and the median price per square foot was $203.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $279K$189.9K
-31.9%
2 $100K$235K
+135.0%
3 $330K$330K
0.0%
4 $299.9K$585K
+95.1%
5+ --
N/A

Summary: 38560 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 31.9%, 2 bedroom homes increased by 135%, 3 bedroom homes did not change, 4 bedroom homes increased by 95.1%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Zip Codes

37030
+17.0%
38560
-10.5%

Housing Supply in 38560, TN

How many homes are available in 38560, TN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
14140.0%

Summary: The 38560 real estate market had 14 homes for sale in October 2024, the same as September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 34
+33.3%
3 98
-11.1%
4 22
0.0%
5+ 00
0.0%

Summary: The 38560 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 33.3%, 3 bedroom homes decreased by 11.1%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
25+150.0%

Asking Price vs. Sold Price

3 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 38560, you may be able to get a good deal. 75% of homes here sold below asking price last month.

Summary: A total of 5 homes were sold or pending in 38560 in October 2024, up by 150.0% month-over-month. Of the 4 sold homes, 75% were sold under asking, 25% 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 2023Oct 2024CHANGE
5 Days58 Days+1076.0%

Summary: Homes in 38560 had an average of 58 days on market in Oct 2024, up by 1076% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 38560 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 5 homes were sold in 38560; 40% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 20% 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 38560, TN

Nearby Markets to 38560, TN